Uber predicts a robust rebound in ridership for the first quarter.

• Uber boosted its first-quarter 2022 financial outlook.
• It cited a faster-than-expected rebound from coronavirus omicron headwinds.
• The company said mobility demand has improved “significantly” through February.

On Monday, the company boosted its first-quarter 2022 financial outlook, citing a faster-than-expected rebound from coronavirus omicron headwinds.

The stock of the company experienced a rise in value during initial trading, but later dropped by 4% at the end of the day.

The ride-hailing giant has revised its expectations for adjusted EBITDA to between $130 million and $150 million, from its previous range of $100 million to $130 million. Additionally, the company anticipates sequential improvement in both mobility and delivery segment adjusted EBITDA, quarter over quarter.

The company reported that mobility demand has improved significantly through February, with trips back at 90% compared to its February 2019 figures. Additionally, gross bookings have been recovered to 95%, as stated in the filing.

According to CEO Dara Khosrowshahi, our Mobility business is recovering from Omicron at a faster rate than anticipated. The demand for travel, commuting, and nighttime activities is increasing across all use cases, indicating consumers' eagerness to resume their active lifestyle.

Uber reported a 50% increase in airport gross bookings by the end of February compared to the previous month.

As health officials worldwide ease coronavirus restrictions, Uber provides upbeat guidance for travelers and those going out.