Users of ride-hailing app take record number of trips in second quarter despite concerns about US economy
Uber is yet to see a significant impact on consumer spending from a weakening US economy, the San Francisco-based company said on Tuesday, with demand for food deliveries still “healthy”. Dara Khosrowshahi, Uber’s chief executive, said the average number of trips booked by its 156mn monthly active users during the three months to June 30 had reached a record high. Revenue rose 16 per cent year on year to $10.7bn, ahead of analyst forecasts of $10.
Gig economy companies, including Uber and its US rivals Lyft and DoorDash, have come under pressure from investors to demonstrate that they can deliver lasting profits while expanding their businesses, following an era of furious spending by the groups and years of deep losses. Last year marked Uber’s first full year of operating profitability, a milestone that the company said was an “inflection point”.
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