Hyperdrive
Uber Surges Most Since 2020 as Demand Eases Worries on Inflation
- Revenue increases 105% to $8.1 billion in the second quarter
- Company’s gross bookings reach a record $29.1 billion
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Uber Technologies Inc. soared the most since 2020, buoyed by revenue that beat analysts’ estimates as customers kept hailing rides and ordering takeout food in the face of quickening US inflation.
“The business is really hitting on all cylinders,” Chief Executive Officer Dara Khosrowshahi said Tuesday in an interview on Bloomberg Television. He pointed to Uber’s record gross bookings and revenue, which more than doubled to $8.1 billion in the second quarter, and said the dual mission in carrying people and making deliveries would set it apart from peers in the event of an economic downturn.