Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

Hi, what are you looking for?

slide 3 of 2
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Business

Business

Second-quarter Uber earnings beat ride-sharing demand.

Listen to the article now

Uber’s second-quarter results topped Wall Street expectations due to solid demand for its ride-sharing and food-delivery services, driving its shares up 5% on Tuesday.
In recent months, Uber and Lyft have benefited from increased ride-sharing demand as more people return to work and leave their homes.
“Mobility had a standout second quarter. Growth was consistent across use cases and geographic strength was led by LatAm and APAC, in particular Brazil, Australia and India,” Dara Khosrowshahi said.

Uber’s self-driving vehicle trips increased sixfold in the quarter thanks to collaborations with Alphabet’s Waymo for rideshare and food delivery and startup Waabi for freight services.
In the second quarter ended June, Uber’s revenue jumped 16% to $10.70 billion and total bookings 19% to $39.95 billion. LSEG statistics showed analysts projected $10.57 billion and $39.68 billion.

The company’s largest business, ride-sharing, grew 25% to $6.13 billion, exceeding projections of $5.94 billion. Uber’s delivery unit earned $3.29 billion, vs $3.32 billion projections.
“While there have been some concerns about consumer spending on restaurants and delivery, we are not seeing any impact today,” Khosrowshahi said, adding that expanded grocery partnerships with Instacart and Costco Wholesale were pushing deliveries.

Uber anticipated third-quarter gross bookings for its mobility, delivery, and freight sectors between $40.25 billion and $41.75 billion, below analysts’ projections of $41.26 billion.
We expect forward gross bookings and EBITDA projections to climb moderately based on Q2 performance and the Q3 plan, said Evercore ISI research analyst Mark Mahaney.
Uber has expected third-quarter adjusted core earnings between $1.58 billion and $1.68 billion, compared to $1.62 billion.


Comment Template

You May Also Like

Business

MSG Networks has returned to Optimum after a nearly two-month blackout, restoring Knicks and Rangers coverage for frustrated fans. The new deal places MSG...

Business

Alphabet has introduced **Premium Lite**, a lower-cost YouTube subscription offering ad-free videos (excluding music). This move aims to expand YouTube’s subscriber base and reduce...

Business

India has been named the best solo travel destination for 2025 by Kensington, thanks to its rich culture, history, and diverse experiences. From the...

Business

Warren Buffett's Berkshire Hathaway has aggressively sold stocks, amassing a record $334 billion in cash. Major divestments include Apple and Bank of America, while...

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok