Uber revenue skyrockets despite inflation

(CNN, KYMA/KECY) - If a recession is looming, it doesn't seem to be affecting Uber.

The company reported $8.3 billion in revenue for the third quarter, a 72% increase over the previous year.

Despite inflation, demand for rides and meal delivery remains strong.

The number of trips taken during the quarter grew 19% adding up to about 21 million trips per day.

Uber eats revenue increased by 24%.

Uber credits the uptick to cities reopening and travel booming post-pandemic, plus consumers spending more on services versus retail.