Uber Revenue Up 72% 

By John McPhaul, The Chicago Times

November 16, 2022

SAN FRANCISCO – Uber Technologies, Inc revenues climbed 72% in the third quarter report.

On Tuesday, Uber reported $8.3 billion in revenue for the three months ending in September, a 72% increase from the prior year.  Despite economic woes of inflation and a looming recession,  revenue growth was fueled by strong ridership and meal deliveries.

According to Uber, their  mobility segment, including its ride-hailing business, saw revenue jump 73% from the prior year to $3.8 billion for the quarter.

Uber Eats, the food delivery segment, saw a revenue increase of 24% from the prior year to $2.8 billion.

However, Uber reported a net loss of $1.2 billion due primarily to investments.