The American digital transportation platform Uber reported strong revenue growth in the second quarter, thanks to the return of people to offices following the lifting of pandemic restrictions and good results in delivery operations. From April to June, Uber’s revenue increased by 16% to $10.70 billion.
The jump follows a 19% increase in gross booking value, reaching $39.95 billion, according to a report released on Tuesday.
Uber concluded the second quarter with a net profit of $1 billion, more than double that of the same period last year, thanks to investment income.
– Mobility had an outstanding second quarter. Growth was consistent across all parts of the business, with Latin America and APAC (Asia-Pacific region) leading among geographic regions, particularly Brazil, Australia, and India – said Uber CEO Dara Khosrowshahi.
Revenue from the largest business segment, transportation services, surged by 25% to $6.13 billion. The delivery segment increased by 16%.
– There were concerns about personal spending on restaurants and delivery, but we currently do not see any impact,” Khosrowshahi said, noting that the boost to the delivery business was driven by an increased emphasis on grocery delivery through expanded partnerships with Instacart and Costco Wholesale.
Drivers and couriers earned $17.9 billion in the second quarter, including tips, calculated by management, which is 18.5% more than last year.
In the third quarter, the gross value of Uber’s bookings is expected to reach $40.25 billion, representing an increase of 18 to 23% compared to the same period last year, they calculated, noting that the forecast is based on the assumption that unfavorable exchange rates will reduce the growth rate by about four percentage points and decrease the amount by about $400 million.
