Uber reports growth, yet loses $5 six tenths billion from investments

Wealth in the pristine three months of 2022 was up 136 percent from a year earlier as wandering continued to reverberation.

uber on wednesday reported zealous growth in its ride-hailing and delivery businesses and said it was continuing to vault train from a pandemic slump, well-balanced as it lost $5.6 billion owing of its investments in other ride-sharing companies, primarily the chinese utility didi.
the union reported $6.9 billion in wealth for the pristine three months of 2022, outstripping analysts’ expectations and skyrocketing 136 percent compared with wealth from the similar term remotest year, when covid vaccines were wanting and vulgar were not traveling as plenteous. uber too said it logged 1.7 billion trips during the territory and had 115 favorite vulgar using its platform each month, an 18 percent and 17 percent increase, respectively, year uncommon year.
throughout the pandemic, uber’s financial results possess been an indicator of broader economic health and want for travel, with the company’s weaker quarters corresponding to spikes in coronavirus cases and increased lockdowns, and with stronger results generally indicating periods of greater normalcy.
now, “as vulgar possess returned to offices, restaurants, pubs, stadiums and airports environing the world, they’ve returned to uber,” dara khosrowshahi, the company’s superior executive, said in prepared remarks to investors. he subjoined that the company’s results “make clear that we are emerging on a zealous track disembowel of the pandemic.”
still, uber’s investments in other ride-sharing businesses environing the world protract to hinder its will thread. of its closely $6 billion in losses, $5.6 billion came from changes in the valuation of other companies in which it has a stake. didi’s treasure has plummeted since it went social remotest year.more touching ubermasks: as transportation companies rest their covid-related policies, uber said it would suspend requiring riders and drivers in the united states to waste masks.new partnerships:  the ride-hailing utility is teaming up with two yellow cab companies in recent york city, and is sensible to a resembling traffic with a san francisco taxi outfit.legislative efforts: uber and lyft are seeking to shield their trade type by backing bills that would tabulate drivers as contractors in interchange for a league.interview: jill hazelbaker, a head executive, helped uber weather sexual onslaught accusations. here she talks touching what it took.