Uber for Business Q4 Bookings Surpass 2019 Record

Uber’s Uber for Business platform continued to recover during the fourth quarter of 2021, “surpassing its previous high from 2019 with well over $1 billion in annual run-rate gross bookings,” Uber CEO Dara Khosrowshahi said during the company’s Wednesday fourth-quarter earnings call.

Uber for Business fourth-quarter gross bookings were $1.3 billion, up 116 percent year-over-year. Managed Uber for Business, which is the actively managed portion of the business through Uber’s account managers and sales team, reached 27 percent of Uber for Business gross bookings. The platform recorded “strong growth” in both mobility and delivery gross bookings as corporate use cases continue to grow, according to the company.

“Over the next few years, U4B’s enterprise offering—which, importantly, spans both mobility and delivery—will significantly outpace our consumer business and become a meaningful contributor to growth and profitability,” Khosrowshahi said. 

Fourth-quarter 2021 airport gross bookings represented 13 percent of mobility gross bookings, growing 24 percent quarter over quarter and nearly 200 percent year over year, “outpacing the overall mobility segment’s recovery as consumer travel trends improved,” according to the company. The quarter’s airport gross bookings in the United States were up about 175 percent year over year, Khosrowshahi added.

Uber reported fourth-quarter net income of $892 million, which compares with a net loss of $968 million a year prior. Adjusted EBITDA was $86 million, up from the $454 million loss reported for the quarter in 2020.

Overall gross bookings grew 51 percent year over year to $25.9 billion, with mobility gross bookings of $11.3 billion, up 67 percent year over year, and delivery gross bookings of $13.4 billion, up 34 percent from a year prior. Trips during the quarter grew 23 percent year over year to 1.77 billion.

RELATED: Uber Q3 earnings

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