Uber sees few signs of customer pullback despite inflation

By MICHELLE CHAPMAN
AP Business Writer

Shares of Uber are surging after the company said there is little evidence that Americans are pulling back on hailing rides or ordering food deliveries despite soaring inflation. The company said Tuesday that it expects fourth-quarter gross bookings to rise 23% to 27% from last year. Shares of Uber, down almost 30% this year, jumped 15%. In the most recent quarter, gross bookings increased 26% to $29.1 billion. The San Francisco ride-hailing service struggled during the pandemic amid lockdowns, but has thrived with the rollout of vaccinations as Americans head back to the office, go out on the town, or stay home and order dinner from a restaurant.