Uber’s Revenue Craters, as Deliveries Surge in Pandemic


OAKLAND, Calif. — Uber is synonymous around the globe with experience hailing. But as the coronavirus pandemic reveals few indicators of loosening its grip, the corporate might grow to be extra intently related to one other enterprise: supply.

Uber stated on Thursday that its ride-hailing enterprise had cratered in the second quarter as folks traveled much less in the pandemic. The firm’s income fell 29 % to $2.2 billion from a yr in the past — the steepest decline since its preliminary public providing final May — as its internet loss totaled $1.eight billion.

But its Uber Eats meals supply service surged, with income greater than doubling from a yr in the past to exceed that of experience hailing for the primary time. Revenue for Uber Eats soared to $1.2 billion, whereas rides got here in at $790 million.

Dara Khosrowshahi, Uber’s chief govt, stated in a name with traders on Thursday that the numerous pandemic responses around the globe had created “a tale of 10,000 cities” for the corporate, with enterprise recovering in some areas and never in others.



Source link Nytimes.com

Featured Advertisements

ADVERTISE HERE NOW ! Secure Paypal

Leave a Reply

Your email address will not be published. Required fields are marked *

Featured Advertisements

ADVERTISE HERE NOW ! Secure Paypal