Huge jump in revenue of 136% year over year has pushed ride-hail and food delivery provider Uber to a record revenue return in the first quarter of 2022.
The U.S.-based company pulled in $6.9 billion in revenue between January and March this year, eclipsing previous record quarters in Q4 2021 ($5.7 billion), Q3 2021 ($4.8 billion), Q2 2021 ($3.9 billion) and Q1 2020 ($3.2 billion).
Adusted EBITDA came in at $168 million, up by $527 million on the corresponding quarter in 2021.
The delivery arm business attracted almost $14 billion in gross bookings year on year in Q1, with mobility at $10.7 billion (up 58% year over year).
The number of month active users on the service has increased by 17% to 115 million during Q1 on the same period in 2021.
The Uber For Business unit had gross bookings on $1.2 billion, an increase of 91% year over year, the company says in its latest earnings statement.
North America accounts for the largest share of revenue by some considerable margin, contributing some $4.6 billion to the company, compared to Latin America $432 million, Europe, Middle East and Africa ($1.1 billion) and Asia Pacific ($733 million).
CEO Dara Khosrowshahi says: "Our results demonstrate just how much progress we’ve made navigating out of the pandemic and how the power of our platform is differentiating our business performance.
"There’s never been a more exciting time to innovate at Uber and we’re focused on executing our strategy to grow our platform profitably."
Uber is forecasting gross bookings of between $28.5 billion and $29.5 billion in the second quarter of 2022.
Khosrowshahi adds: "After more than two years of persistent and sometimes unpredictable impacts to our business, our Q1 results make clear that we are emerging on a strong path out of the pandemic."