This news has been received from: CNBC

All trademarks, copyrights, videos, photos and logos are owned by respective news sources. News stories, videos and live streams are from trusted sources.

mail: [NewsMag]

In this article

  • UBER
  • LYFT
  • DASH
  • UBER
  • ABNB
  • ABNB
Air travelers wait in the ride share lot near a sign for Uber at Los Angeles International Airport (LAX) on August 20, 2020 in Los Angeles, California.Mario Tama | Getty Images

Shares of gig economy companies Uber, Lyft, DoorDash and Airbnb popped this week after each posted quarterly reports that showed strong demand.

Lyft finished the week up 46% and Uber jumped 37%, the best week ever for both stocks. DoorDash closed up 15% and Airbnb rose for a third straight week, climbing 5.5%.

Investors are encouraged to see that gig companies in the consumer market are, so far, withstanding inflationary pressures that have rocked other sectors like retail. And it may be an indication that grocery delivery platform Instacart can form a stronger pitch for an IPO. Instacart confidentially filed for an IPO in May, though it's had to bring its private market valuation down.

Uber CEO Dara Khosrowshahi said he's noticed a change in consumer spending from retail to services. And inflation may have even helped. Khosrowshahi said Uber saw a boost in drivers on the platform as consumers look to other ways to increase their income.

Airbnb, meanwhile, posted an all-time high in bookings. DoorDash said it had a record number of orders. Lyft, which still had a net loss, posted its highest adjusted earnings figure in history.

Here are some of the highlights:

  • Uber reported revenue of $8.07 billion, well above analyst estimates of $7.39 billion. Khosrowshahi said that driver engagement reached another post-pandemic high during the quarter.
  • Lyft reported a 16% increase in active riders, to 19.9 million, the highest since the start of the pandemic.
  • DoorDash posted better-than-expected revenue. Though it reported a wider loss per share than estimated, the company recorded 23% growth in the total number of delivered orders.
  • Shares of Airbnb were up for the third week in a row. The company posted higher-than-expected earnings on Tuesday and revenues in line with expectations for the second quarter. Airbnb said gross nights booked for cross-border travel exceeded pre-pandemic levels and doubled compared to the same period last year.
TVWATCH LIVEWATCH IN THE APPUP NEXT | ETListen

News Source: CNBC

Tags: strong demand than expected los angeles the company gig economy

Anne Heches Ex-Husband Coleman Laffoon Is a Realtor

Next News:

Twins top Blue Jays 7-3 behind clutch Polanco, strong pen

MINNEAPOLIS (AP) — Jorge Polanco had a pair of two-out RBIs and Jose Miranda homered for the Minnesota Twins, who beat the Toronto Blue Jays 7-3 behind a stellar bullpen performance on Saturday night.

All-Star Luis Arraez went 3 for 5 with an RBI for the first-place Twins, who kept their two-game lead on Cleveland in the AL Central.

Arraez doubled twice and scored on both of Polanco’s clutch hits — a single in the third inning off Blue Jays starter Mitch White (1-3) and a double in the fifth after White was replaced by Tim Mayza.

Mayza had a painful night, ending with a dislocated non-throwing shoulder. Three batters after surrendering Miranda’s 11th home run to start the sixth, Mayza charged a squeeze bunt that Sandy León dropped down in front of the mound for a single to score the speedy Nick Gordon.

His only chance was to try to scoop the ball in his glove and in the same motion either flip it to the plate or tag Gordon, but he whiffed and whacked Gordon with his fully extended right arm. It bent awkwardly in the collision, causing Mayza to writhe around in the dirt for a few seconds before walking off slowly while clutching his shoulder. Mayza, who’s had a solid season with a 2.88 ERA, is Toronto’s only current left-handed reliever.

Bo Bichette hit a tying two-run homer off Twins starter Dylan Bundy in the fourth inning and an RBI single in the eighth, the only run allowed in five innings by Minnesota’s trade-boosted bullpen.

Jhoan Duran inherited runners at the corners with one out in the eighth and gave up Bichette’s bouncer up the middle, but the right-hander who leads the major leagues in 100 mph pitches handed Matt Chapman his fourth strikeout of the game on a 101 mph heater and retired Whit Merrifield on a fielder’s choice grounder to end the inning with a 5-3 lead.

Trevor Megill (3-1) led off the relief parade with a perfect fifth, and newly acquired closer Jorge López finished up with a hitless ninth after blowing his save chance on Friday night in the 6-5 win by the Twins in 10 innings.

Vladimir Guerrero Jr. went 2 for 5 with a run scored to extend his career-high hitting streak to 17 straight games for the Blue Jays, who lead the AL wild card race. They are three games ahead of Baltimore, the first club below the three-team cut.

The two-time All-Star Guerrero is batting .420 (29 for 69) with eight doubles, three homers and 12 RBIs during his streak.

TRAINER’S ROOM

Blue Jays: CF George Springer landed on the 10-day injured list with lingering inflammation in his right elbow that kept him out of four of the previous five games.

Twins: RF Max Kepler was reinstated from the 10-day injured list, recovered from a broken pinky toe on his right foot. He was hit there by a pitch on July 24.

UP NEXT

Blue Jays: RHP Kevin Gausman (8-8, 3.06 ERA) pitches the finale of the four-game series. He threw eight shutout innings with just one hit and one walk allowed in his last start against Tampa Bay.

Twins: RHP Chris Archer (2-5, 4.05 ERA) takes the mound on Sunday afternoon. He had a season-high eight strikeouts in his last turn, but he has failed to finish five innings in four straight outings.

___

More AP MLB coverage: https://apnews.com/hub/MLB and https://twitter.com/AP_Sports

Copyright © 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.

Other News

  • Patriots Veteran Has Strong Words For Teammates; Calls For Ego Check
  • I Felt Very Strong: Trump Mockingly Reenacts Story of Choking Secret Service Agent on January 6 For Highly Amused CPAC Crowd
  • Twins top Blue Jays 7-3 behind clutch Polanco, strong pen
  • Sean Hannity Wants Low Income Americans to Have No Lives
  • We tested four body scrubs which aim to deliver baby-soft skin
  • Phil Foden set to pocket massive £6MILLION in bonuses on top of new Man City salary… and more if he wins Ballon d’Or
  • Weekly horoscope for August 7- August 13: What the stars have in store for every zodiac sign revealed
  • Aries horoscope: What your star sign has in store for August 7 to August 13
  • Gemini horoscope: What your star sign has in store for August 7 to 13
  • Aries horoscope: What your star sign has in store for August 7 to 13
  • Win a copy of Love & Other Human Errors by Bethany Clift in this week’s Fabulous book competition
  • Win a copy of The Weekend Before The Wedding by Tracy Bloom in this week’s Fabulous book competition
  • I tried the celebrity craze ‘manifestation’ for a week – here’s the surprising things I found
  • Phil Foden set to pocket massive £6MILLION in bonuses on top of new Man City contract… and more if he wins Ballon d’Or
  • Donald Trump dominates 2024 CPAC straw poll
  • I won the lottery 20 times in the same week and took home $100,000 after buying identical tickets online