Uber's Rebound Continues Despite High Gas Prices and Inflation

Uber's Rebound Continues , Despite High Gas Prices and Inflation.

The company stated on Aug.

2 that its revenue exceeded $8 billion during the first three months of the second quarter.

That number is more than double the company's revenue in the second quarter of 2021.

In addition, Uber reported that it is now cash flow positive.

According to the company, the numbers of users and drivers of the app are "at all-time highs.".

Monthly users of the app have exceeded 122 million despite a difficult economy marred by inflation.

No one wishes for a tough economic environment or elevated inflation that's affecting so many of us, including Uber drivers, Dara Khosrowshahi, Uber CEO, via CNN.

Analysts look to Uber as a barometer of consumer behavior two years into the pandemic.

In addition to its ride-sharing model.

... Uber's food and grocery delivery services remain strong.

[Uber] delivered balanced growth [and has done so] on a platform that's larger than ever, with the number of consumers and earners using Uber now both at all-time highs, Dara Khosrowshahi, Uber CEO, via CNN.

News of the strong revenue pushed shares of Uber stock up 15 percent.

When we look at the competitive environment, this is the strongest we felt competitively globally since Nelson and I probably started here, Dara Khosrowshahi, Uber CEO, via CNN.

Right now, the machine is working, Dara Khosrowshahi, Uber CEO, via CNN