Uber gains momentum in 2nd quarter, investors look past loss

Follow-ups -eshrag News:

Tue, 2022-08-02 14:49

LONDON: Uber continued to gain momentum in the second quarter with Americans heading back to offices and traveling more as anxiety over COVID-19 eases.

Passengers took a total of 1.87 billion trips on Uber during the spring and early summer, a 24 percent increase from the same time last year.

Revenue at the San Francisco company more than doubled to $8.07 billion, bolstered by a change in the business model for its UK mobility business and the acquisition of Transplace by Uber Freight.

This beat the $7.36 billion that analysts polled by FactSet predicted.

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Business & Economy

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