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Mobility

Uber to acquire parking app SpotHero

Uber is acquiring parking reservation app SpotHero as it moves to expand its mobility platform, CNBC reported on Sunday. Uber plans to integrate SpotHero into its app to make it easier to reserve parking at events and airports. The company said the acquisition will extend its services beyond ride-hailing to include parking and strengthen a driver-focused mobility ecosystem. Uber shares recently fell after a weak profit outlook despite delivery growth.

Telecommunications & Media

Uber posts 20 percent rise in fourth-quarter revenue, delivery drives results

Uber records fourth-quarter revenue of $14.4 billion, up 20 percent from a year earlier, with the delivery business growing 30 percent and driving results, CNBC reports. Despite the stronger-than-expected revenue, the stock declines after the earnings release. Uber is positioning AI and autonomous vehicle technology as core growth engines. CEO Dara Khosrowshahi says AI and AV will create a multibillion-dollar market and aims to make Uber the world’s largest AV platform by 2029.