Uber’s Q2 revenue beats Wall Street estimates on ride-sharing demand

Uber beat Wall Street estimates for second-quarter revenue and core profit on Tuesday, helped by steady demand for its ride-sharing and food-delivery services, sending the company’s shares up 5 per cent before the bell.

With more people returning to offices and stepping out of their homes, ride-sharing demand has got a boost over the past several months benefiting companies such as Uber and rival Lyft.

“Mobility had a standout second quarter … growth was consistent across use cases and geographic strength was led by LatAm and APAC, in particular Brazil, Australia and India,” Uber CEO Dara Khosrowshahi said.