Uber Revenue Doubles, Sending Shares Surging

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Uber Applied sciences Inc. doubled quarterly income, improved its monetary efficiency and mentioned high inflation was inflicting extra folks to drive for the platform to assist offset rising family prices.

The ride-hailing firm mentioned Tuesday that income grew 105% to $8.07 billion for the three months via June. The corporate additionally posted adjusted earnings—a determine that excludes some bills—of $364 million, its strongest ever. Each figures beat Wall Road expectations.

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