Rideshare, Delivery Are Bright Spots Amid Consumer Pullback
- Uber, DoorDash and Instacart all surpassed expectations
- Brands have benefited from user habits, diversified offerings
DoorDash has staved off any skittishness around consumer spending to deliver better-than-expected results, analysts said.
Photographer: Yuki Iwamura/BloombergThis article is for subscribers only.
It has been a tough earnings season for the technology industry, and markets more broadly.
Big Tech companies failed to convince Wall Street that their massive investments in artificial intelligence are paying off. Growth in their core businesses underwhelmed. Their results, combined with broader concerns about the health of the US economy, triggered a meltdown that, at one point, had erased some $6.4 trillion from global stock markets.