Gig work platforms post record results

Why it matters: Worries of an economic slowdown have grown as inflation remains elevated and eats away at consumer budgets. But many companies have yet to see a significant reduction in spending.

Details: DoorDash said the frequency with which existing customers ordered last quarter was similar to 2019, and that new costumer sign-ups has not appeared to slow down.

• Separately, Lyft's president, John Zimmer, told WSJ that inflation has not appeared to dent demand as of yet.

The big picture: Both platforms rely on gig workers who have been in short supply since the start of the pandemic.

• Each company has had to carefully adjust its spending to incentivize workers without jeopardizing profits.

Shares of Lyft and DoorDash soared after hours by more than 9% and 15%, respectively.