Uber and Lyft agreed to pay $328 million to settle a New York probe that accused the companies of wrongfully deducting fees from drivers' pay
Uber said trips and bookings reached a record in October AFP

Uber said consumer demand for the fourth quarter is solid and will lead to a growth of at least 20% in the number of trips for the period.

"Uber's core business is stronger than ever as we enter the busiest period of the year,"
Chief Executive Officer Dara Khosrowshahi said in the third-quarter earnings press release. "This trend continued into the fourth quarter as we achieved all-time highs in October for overall trips and gross bookings, driven by strength across both mobility and delivery."

The company ended the period with revenue of $9.3 billion, or 11% more than a year earlier. Profit was $221 million, compared with a loss of $1.2 billion last year. Gross bookings and adjusted Ebitda (earnings before interest, taxes, depreciation and amortization) in the third quarter surpassed the company's forecast for the period.

In the outlook for the fourth quarter, Uber expects gross bookings of $36.5 billion to $37.5 billion and adjusted Ebitda of $1.18 billion to $1.24 billion. The forecasts topped analysts estimates of $36.3 billion and adjusted Ebitda of $1.15 billion, Reuters reported, citing LSEG data.

The company said that demand in the U.S. is getting a boost from a recovery in corporate travel and also from return-to-office policies. Internationally, Uber highlighted that it's advancing in some big markets, such as Spain, Germany, Argentina, Japan, Italy and South Korea.

In the technology front, the company said that fully autonomous rides, without a human driving a vehicle, are for the first time available on the Uber platform in Phoenix after a partnership with Waymo.

"We are well positioned to add substantial value for our autonomous vehicle partners and the cities we serve," the company said in its prepared remarks.

Uber