Continued demand for Uber Technologies ’ ride-share and delivery services boosted its revenue and adjusted earnings in the first quarter, despite concerns that high inflation and a potential recession could douse spending.
The San Francisco-based company said Tuesday that revenue for the three months through March rose 29% from a year earlier to $8.82 billion. It also increased the number of consumers and trips, and the value of transactions, on its platform. The sales expansion was in line with Wall Street’s expectations.
Continued demand for Uber Technologies ’ ride-share and delivery services boosted its revenue and adjusted earnings in the first quarter, despite concerns that high inflation and a potential recession could douse spending.
The San Francisco-based company said Tuesday that revenue for the three months through March rose 29% from a year earlier to $8.82 billion. It also increased the number of consumers and trips, and the value of transactions, on its platform. The sales expansion was in line with Wall Street’s expectations.