economy
Uber and Disney are seeing the same remarkable dynamic in this economy. Both stocks are surging
Uber and Disney pointed to a resilient spending backdrop, with consumers continuing to shell out for rides, food delivery, vacations and theme park trips.
TL;DR
- Consumers are spending on rides, food delivery, vacations, and theme park trips despite rising gasoline prices and economic concerns.
- Uber and Disney reported strong financial results, with consumers showing no signs of pulling back on spending.
- Uber's delivery business grew 34% and its ride-hailing revenue increased 5%.
- Disney's experiences division, including theme parks, saw revenue rise 7% with a 2% increase in global attendance.
- The national average gasoline price has climbed significantly, but this has not yet deterred consumer spending for these companies.
- Both companies are monitoring the potential impact of sustained high fuel costs on consumer behavior.