Revenue more than doubled to $8.1 billion in the three months through June.
Uber's revenue more than doubled to $8.1 billion in the three months through June 2022SAN FRANCISCO - Uber reported better-than-expected revenue on Tuesday, fueled by strong demand for the San Francisco-based company's ride-hailing and food delivery services that sent its shares upward.
Uber primarily attributed the loss to the falling value of its investments in financially-strapped companies such as Singapore's VTC Grab, US self-driving vehicle start-up Aurora and Indian food delivery service Zomato. Analysts noted that the relatively robust earnings were well above expectations, a relief during an earnings season buffeted by inflation, economic uncertainty and the ongoing impact of the coronavirus pandemic.
"We saw an acceleration in both active and new driver growth in the quarter," Khosrowshahi."Against the backdrop of elevated gas prices globally, this is a resounding endorsement."
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