Why Uber Shares Are Rising Today

Uber Technologies Inc UBER is trading higher Tuesday amid CEO Dara Khosrowshahi's participation in today's fireside chat hosted by UBS.

Khosrowshahi reportedly said that he is confident Uber will come in at the top half of its guidance for the fourth quarter.

During its most recent earnings report, Uber said it expects fourth-quarter gross bookings of $25 billion to $26 billion. The company said it expects fourth-quarter adjusted EBITDA to be in a range of $25 million to $75 million.

Khosrowshahi also reportedly said that Uber has seen some local impacts on rides as a result of the omicron variant, but noted that global business is closer to pre-pandemic levels.

In fact, last week was the company's best week ever, according to the Uber CEO.

See Also: What 5 Analyst Ratings Have To Say About Uber Technologies

Uber is a technology provider that matches riders with drivers, hungry people with restaurants and food delivery service providers and shippers with carriers.

UBER Price Action: Uber has traded as high as $64.05 and as low as $34.88 over a 52-week period.

The stock was up 6.13% at $37.91 at time of publication.

Photo: courtesy of Uber.