Uber reaches 5 million drivers and hits record users

Uber also beat forecasts in revenue, number of monthly users and positive cash flow.

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Last Tuesday (2), Uber released its financial results for the second quarter that indicate that analysts’ forecasts were exceeded. As a result, the group’s revenue doubled to $8.1 billion, with strong customer demand for rides and food deliveries, although inflation is high.

The result predicted by analysts was lower, in the amount of US$ 7.4 billion in revenue in the average of projections.

positive record

Uber also reported that 122 million people use the platform monthly, a figure that also exceeded the market forecast, which was 120.5 million.

In the second half, which ended in June, the company handled US$ 29.1 billion with rides, food deliveries and parcels, a growth of 33%. According to Dara Khosrowshahi, CEO of the company, this amount and the number of users on the platform were records.

“In the last quarter, we challenged our team to hit profit targets even faster than we planned, and we delivered,” Khosrowshahi said in a statement.

Furthermore, for the first time in its history, Uber had a positive cash flow of $382 million. However, analysts estimated a smaller positive flow of US$ 263 million.

Uber numbers

The number of rides and deliveries exceeded pre-pandemic rates, due to the reopening of offices and demand in tourism travel.

Uber also recorded a record number of driver and delivery partners, reaching a total of 5 million. However, analysts fear that rising fuel prices will reduce professionals’ demand for the app as a source of income.

However, according to Khosrowshahi, more than 70% of new drivers joined the platform to earn extra income amid the economic crisis.

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Image: Christopher Penler / Shutterstock.com

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