Uber Technologies Inc. (NYSE: UBER) saw its stock surge 5.04% on Thursday, buoyed by impressive fourth-quarter results and the company's positioning in the autonomous vehicle market.

The ride-hailing giant reported accelerated growth in audience, trips, and gross bookings for Q4 2024, exceeding its own expectations. Notably, Uber's Uber One membership program added 5 million new members in the quarter, reaching a total of 30 million and growing nearly 60% year-over-year.

Adjusted EBITDA soared 60% year-over-year, surpassing the company's high 30% to 40% CAGR target, while free cash flow as a percentage of EBITDA hit an impressive 106%, exceeding the 90%-plus target. However, currency depreciation in key markets like Argentina, Mexico, and Brazil weighed on top-line growth, and insurance costs remained a challenge.

During the earnings call, CEO Dara Khosrowshahi expressed confidence in Uber's position to capture the autonomous vehicle opportunity, estimated at over $1 trillion. The company is investing aggressively across its AV portfolio, focusing on building supply through partnerships with players like Waymo and OEMs. Waymo's self-driving cabs are expected to be available on the Uber app in Austin and Atlanta this year.

Additionally, Uber announced a collaboration with 1-800-Flowers.com, leveraging Uber Direct for on-demand flower deliveries. This partnership aims to help florists fulfill more orders during peak seasons like Valentine's Day, addressing a significant logistical challenge.