. Uber on Tuesday reported $8.3 billion in revenue for the three months ending in September, a 72% increase from the prior year, fueled by strong demand for rides and meal deliveries even as inflation and recession fears weigh on consumers. The company’s mobility segment, which includes its ride-hailing business, saw revenue grow 73% from the prior year to $3.8 billion for the quarter. The number of trips during the quarter grew 19% to 1.
“Even as the macroeconomic environment remains uncertain, Uber’s core business is stronger than ever,” Dara Khosrowshahi, Uber’s CEO, said in a statement accompanying the earnings report. On a conference call with analysts Tuesday, Khosrowshahi said Uber’s business has benefited from “cities reopening, travel booming and, more broadly, a continued shift of consumer spending from retail to services.” Uber has “seen these trends continue into the fourth quarter,” he said.
More like their surcharges.
“You may be in a recession, but this massive company made money, so stop whining because it’s hurting democrat election polls.”
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