Author: Andrew J. Hawkins
Illustration by Alex Castro / The Verge
Uber is still getting pummeled by COVID-19. The company lost $1.1 billion over the last three months, with its adjusted net revenues down 20 percent compared to Q3 of 2019.
Gross bookings in its ride-hailing division, or the amount of money it takes in before paying drivers, fell 50 percent year over year. It’s grim position, but also a steady improvement over the second quarter, in which Uber’s ride-hailing business was down 73 percent year over year. But there was no mistaking the impact of the coronavirus pandemic on the company’s core transportation business. Uber brought in $2.8 billion in adjusted revenue.
“it’s question of when, not if, our mobility business will recover”
“All early evidence we see makes it increasingly clear...
Continue reading…
Continue reading...
Uber is still getting pummeled by COVID-19. The company lost $1.1 billion over the last three months, with its adjusted net revenues down 20 percent compared to Q3 of 2019.
Gross bookings in its ride-hailing division, or the amount of money it takes in before paying drivers, fell 50 percent year over year. It’s grim position, but also a steady improvement over the second quarter, in which Uber’s ride-hailing business was down 73 percent year over year. But there was no mistaking the impact of the coronavirus pandemic on the company’s core transportation business. Uber brought in $2.8 billion in adjusted revenue.
“it’s question of when, not if, our mobility business will recover”
“All early evidence we see makes it increasingly clear...
Continue reading…
Continue reading...