Dara Khosrowshahi says fuel costs could raise fares India, Brazil
Business
Uber's CEO Dara Khosrowshahi says rising fuel costs, made worse by the Iran conflict, could mean higher ride prices for users in India and Brazil.
He pointed out that both drivers and riders in these countries are really sensitive to price changes, so even small hikes can have a big impact.
Uber bought back $750 million of shares
To keep enough drivers on the road despite expensive fuel, Uber plans to boost incentives for drivers while cutting back on discounts for riders.
The company also just reported solid revenue growth this quarter, but profits didn't quite meet expectations.
Still, Uber bought back $750 million of its own shares, showing it's making some bold financial moves even with global economic challenges.