Uber stock surges amid second-quarter revenue beat

Yahoo Finance Live takes a look at Uber's stock performance following the ride-share company's mixed second-quarter earnings report.

Video Transcript

SEANA SMITH: All right, well, my play today is Uber. Its business is doing well and is now cash flow positive, despite those high gas prices and inflation. A couple of headwinds facing Uber over the last couple of months. Revenue hitting 8.1 billion, more than double what we saw a year ago. 122 million people using its platform each month. That's a 21% jump from last year.

Uber CEO Dara Khosrowshahi saying in the earnings statement that Uber is delivering, quote, "balanced growth" on a platform that's larger than ever. But the number of consumers and earnings using Uber now at an all-time high.

Dave, we saw a bit of a slow rebound in some of these ride sharing apps. Uber was one of those companies facing some of those headwinds. It certainly looks like things are picking up at this point. Worries, though, about a recession could be bad news here for at least Uber, Lyft, some of those other players in this space for the next couple of quarters.

DAVE BRIGGS: For now, travel's up, and we're shifting from that shopping from goods to services, right? And Dara also said that he sees more drivers making money now than during pre-pandemic, which really surprised me. That's a huge number. So they're seeing accelerated growth and new and active drivers.

And they've made changes that haven't even taken hold yet that make it even more productive for drivers that essentially allow them to shop for the ride they want. When Uber was growing up, it was more that we-- the riders had the power to shop for a driver. But that dynamic is being flipped. And they're making drivers very happy.