Uber revenue grew 105% to 8.07 Billion for three months. Earning $364 million -strongest ever. Great projection. This will help Lyft ( report this Thursday ) and DIDIY via /r/wallstreetbets #stocks #wallstreetbets #investing


Uber revenue grew 105% to 8.07 Billion for three months. Earning $364 million -strongest ever. Great projection. This will help Lyft ( report this Thursday ) and DIDIY

Uber UBER 4.90%▲ Technologies Inc.’s revenue more than doubled last quarter and boosted its operating performance amid high inflation and worries about the weakening economy.

The ride-hailing giant Tuesday said revenue grew 105% to $8.07 billion for the three months through June. The company also posted adjusted earnings—a figure that excludes some expenses—of $364 million, its strongest ever. Both figures beat Wall Street expectations.

Revenue was partly boosted by high ride prices, triggered by a yearlong driver shortage in the U.S. The company also changed how it accounts for its rides operations in the U.K., giving a boost to revenue from the prior year.

Submitted August 02, 2022 at 03:25PM by Kashmiri-pandit
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