(Reuters) – Uber Corp reported second-quarter revenue and adjusted profit that beat expectations on Tuesday, driven by demand for its ride-hailing and home delivery services.
Uber’s revenue rose 16 percent to $10.7 billion (€9.81 billion) in the April-June period, beating analysts’ expectations of $10.57 billion, according to LSEG data.
The group’s adjusted basic profit came in at $1.60 billion, also above analysts’ expectations of $1.51 billion.
The group’s ride-hailing business saw a 25% jump to $6.13 billion, while analysts had expected $5.94 billion.
“Mobility had an exceptional second quarter…growth was consistent across all use cases,” Uber CEO Dara Khosrowshahi said, highlighting the company’s strong performance in South America and Asia-Pacific, including Brazil, Australia and India.
Uber’s delivery service also exceeded expectations, posting revenue of $3.29 billion, above the $3.32 billion expected by analysts.
“While there have been concerns about consumer spending on restaurants and delivery, we are not seeing an impact today,” Khosrowshahi added, noting the surge in grocery deliveries, driven by expanded partnerships with Instacart and Costco Wholesale.
Uber expects its adjusted core profit, a key measure of profitability, to be between $1.58 billion and $1.68 billion in the third quarter.
In New York, Uber shares rose 5% in pre-market trading.
(Report by Yuvraj Malik in Bangalore, by Augustin Turpin, edited by Blandine Hénault)
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