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Uber has recovered from the pandemic and the driver shortage that followed, the company said on Wednesday. The company’s second-quarter revenue rose 105 percent year-on-year to $3.9 billion, slightly higher than analysts had expected. Uber also posted a rare profit of $1.1 billion. Initial public offering of Chinese ride-hailing company DidiUber has an 11 percent stake.

Uber said its adjusted losses, excluding the one-time gain, were $509 million. Uber made the last profit In the first quarter of 2018, when it sold some of its business in overseas markets where it faced difficulties. CFO Nelson Chai said in a statement that the company is on track to meet its adjusted profitability target for the final three months of 2021.

Uber’s stock price fell nearly 8 percent in post-trade trading as a result of the drop in value of Didi’s stock as that company faced regulatory pressure in China.

Uber and other ride-hailing companies still face uncertainty as the Delta variant has caused an increase in Covid-19 cases in the United States and elsewhere. Uber’s food delivery business, Uber Eats, provided the company with a lifeline when customers stopped traveling but during earlier quarantine periods. started ordering more food.

Riders returned to Uber faster than drivers this spring, which means long waiting times and higher prices. To get drivers back on the platform, Uber has increased incentives and bonuses. Uber also said it has temporarily cut the amount it receives from haul ride fares to 18.7 percent, temporarily lowering its usual rate of 20 to 25 percent.

The move worked, according to Uber CEO Dara Khosrowshahi. “We’ve invested in the recovery by investing in drivers and have made strong progress with monthly active drivers and couriers in the US increasing by approximately 420,000 from February to July,” Mr. Khosrowshahi said in a statement.

Uber says it attracts 101 million monthly active consumers.

On Tuesday, Uber’s biggest competitor in the United States, Lyft, said it had revenue of $765 million in the second quarter, up 125 percent from the previous year. The company cut its losses from $437.1 million to $251.9 million and attracted 17 million active riders, up nearly 97 percent year-on-year.

Lyft attributed the growth to its recovery from the peak of the pandemic and said it met its adjusted profitability target.