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 * Business
 * Earnings


UBER REVENUE DOUBLES, SENDING SHARES SURGING


RIDE-HAILING COMPANY ENDS QUARTER WITH RECORD NUMBER OF DRIVERS AND
FOOD-DELIVERY COURIERS

Uber, Lyft and the Crucial Challenge for Profitability in 2022
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After enduring the pandemic, ride-share companies like Uber and Lyft are now
facing a new world of high inflation, driver shortages, and dwindling passenger
numbers. WSJ’s George Downs explains what they’re doing to try and survive.
Illustration: George Downs
By
Preetika Rana and
Meghan Bobrowsky
Updated Aug. 2, 2022 9:54 pm ET

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Uber Technologies Inc. doubled quarterly revenue, improved its financial
performance and said high inflation was causing more people to drive for the
platform to help offset rising household costs.

The ride-hailing company said Tuesday that revenue grew 105% to $8.07 billion
for the three months through June. The company also posted adjusted earnings—a
figure that excludes some expenses—of $364 million, its strongest ever. Both
figures beat Wall Street expectations.


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