Uber's third-quarter revenue rose 10% to $14.77bn, slightly ahead of analysts' forecasts, but both its ride-hailing and food delivery businesses missed expectations, CNBC reports. Mobility revenue fell 2% to $7.52bn and delivery grew 23% to $5.49bn, with the overall beat driven by a 34% jump in freight sales. Earnings per share were 25 cents, well below the 96 cents expected, and net income fell 92% to $512m because last year's figure included a large tax benefit.
Chief executive Dara Khosrowshahi said higher fuel prices and a shortage of drivers had held back growth in some international markets. Uber expects about 700 self-driving vehicles on its platform by the end of this year and more than 2,000 by the end of 2027, split between the US and other countries.
Source: CNBC