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Uber, DoorDash boost earnings with high-income users

Business Insider·Alex Bitter·23 days ago
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Uber and DoorDash bet on higher earners. It's paying off big. High-income consumers buoyed quarterly results at Uber, DoorDash, and Instacart. Bloomberg/Getty Images Uber, DoorDash, and Instacart targeted high-income consumers — and boosted their quarterly earnings. Their latest offerings, from hotel booking to coffees in an Uber Black , take aim at affluent users. The companies are still maintaining offerings for customers looking to save money. Black-car rides, paid memberships, and other offerings for affluent consumers are paying off for Uber, Instacart, and other gig-based services. Despite rising gas prices and consumers trimming their budgets, many people are still spending on ride-hailing and food delivery, according to companies' latest earnings results. Uber, DoorDash, and Instacart largely beat quarterly expectations this week and saw their stocks lift. "We're definitely seeing that not all consumers are under pressure," said Brian Mulberry, chief market strategist at Zacks Investment Management.…

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