Uber Shares Jump as it Reports Higher Sales

Uber, the ride-hailing giant, reported higher sales in its latest earnings report, causing its shares to jump in the stock market.

The company reported a revenue of $3.17 billion in the second quarter of 2021, which is a 105% increase from the same period last year. This is also higher than the expected revenue of $3.1 billion.

Uber's net loss for the quarter was $509 million, which is an improvement from the $1.78 billion loss in the same period last year.

The company's CEO, Dara Khosrowshahi, attributed the strong performance to the recovery of the ride-hailing business as more people get vaccinated and travel restrictions are lifted.

Uber's food delivery business, Uber Eats, also saw a significant increase in revenue, with a 85% year-over-year growth. The company's delivery business has been a key driver of growth during the pandemic as more people order food online.

The positive earnings report caused Uber's shares to jump by more than 10% in after-hours trading.

Overall, the strong performance of Uber in the second quarter of 2021 is a promising sign for the company's future growth and profitability.

https://www.lifetechnology.com/blogs/life-technology-technology-news/uber-shares-jump-as-it-reports-higher-sales

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