Uber shares jumped more than 5% after strong business results

Uber Technologies shares rose during trading today, Wednesday, in the wake of the company’s quarterly business results for the last quarter of 2022.

And Uber stated in an official statement that its quarterly revenue during the week ending on the 31st of December increased as a result of increased consumer spending on trips and food delivery.

Uber’s revenue jumped 49% to $8.6 billion year-on-year in the fourth quarter, while adjusted earnings rose to $665 million from $86 million in the same period in 2021.

The company’s CEO, Dara Khosrowhashi, commented that Uber will enter 2023 with great momentum amid high demand for trips.

During the session’s trading, Uber Technologies shares rose by 19:12 GMT, by 5.1%, to $36.6.