Uber reported what it called its “strongest year” in 2022 in prepared remarks for its earnings call on Wednesday. Gross bookings grew 19% year-over-year, with revenue up 49%.
“Most of the U.S. is at pre-COVID levels,” in terms of active users, said Dara Khosrowshahi, Uber CEO, during the earnings call. But he added that West Coast cities, including Los Angeles, San Francisco, Seattle and Portland, Oregon, “are trailing and are off the pace that we see pretty much everywhere else in the world.”
The company’s delivery business, which was unprofitable in 2021, turned into a money-maker in 2022 and grew 14% from the prior year. In the U.S., participants in the Uber One membership program, which offers discounts on rides and deliveries, accounted for more than 40% of delivery bookings. “Our Delivery business continued to show resilience, growing at a healthy rate while meaningfully expanding profitability and improving our category position in a majority of our large markets,” according to Khosrowshahi’s prepared remarks.
Uber’s press release also noted new driver and passenger safety features introduced in October. The Uber driver app’s navigation now reduces the number of left turns, which are responsible for 22% of intersection crashes, according to the National Highway Traffic Safety Administration. The app also alerts drivers to “watch for cross traffic” when approaching an uncontrolled four-way intersection. Passengers and drivers can also use their phones to record audio of their trip if they feel uncomfortable.
Khosrowshahi looked to reassure investors concerned about a possible economic recession. “Mobility demand and supply are rapidly improving, and we expect the business to remain resilient in a downturn,” he said in prepared remarks.
