India, Feb. 5 -- Ride-hailing and delivery platform Uber Technologies, Inc. (UBER) reported Wednesday a net profit for the fourth quarter soared nearly five-fold from last year, boosted by a huge benefit from a tax valuation release. Quarterly revenues topped analysts' estimates.
In Wednesday's pre-market trading, UBER is currently trading on the NYSE at $66.18, down $3.57 or 5.12 percent.
"Uber ended 2024 with our strongest quarter ever, as growth accelerated across MAPCs, trips, and Gross Bookings," said Dara Khosrowshahi, CEO.
For the fourth quarter, net income attributable to Uber soared to $6.88 billion or $3.21 per share from $1.43 billion or $0.66 per share in the prior-year quarter.
The latest results included a $6.4 billion ben...