Uber reports loss, but beats income expectations

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AFP

San Francisco (AFP) – Uber reported better-than-expected revenue on Tuesday, fueled by strong demand for its ride-hailing and food delivery services that have drawn a surge in drivers looking to offset inflation’s bite. Revenue more than doubled to $8.1 billion in the three months through June, a 105 percent increase, at a time when many tech companies are struggling to navigate global economic turbulence. Still, the firm posted a net loss of $2.6 billion, but investors shrugged it off and shares closed up about almost 19 percent on Wall Street. Uber primarily attributed the loss to the fallin…

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