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Uber says consumer spending ‘never been stronger’ as profits jump

Users of ride-hailing app take record number of trips in second quarter despite concerns about US economy

Uber is yet to see a significant impact on consumer spending from a weakening US economy, the San Francisco-based company said on Tuesday, with demand for food deliveries still “healthy”.

Dara Khosrowshahi, Uber’s chief executive, said the average number of trips booked by its 156mn monthly active users during the three months to June 30 had reached a record high.

Revenue rose 16 per cent year on year to $10.7bn, ahead of analyst forecasts of $10.6bn, driven by sales growth at its ride-hailing and food delivery businesses. Net income of $1bn came in well ahead of market expectations of $659.5mn for its second quarter.

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