Uber Quarterly Earnings

Uber Technologies has reported a loss of $1.78 billion in its Q2 2020 earnings owing to lockdowns imposed across the world thanks to the COVID19 pandemic. This has impacted its core ride-sharing massively. Year on year, its ride-sharing business collapsed by 73% compared to Q2 of 2019. On the bright side, with people staying in more, its UberEats, ...

Homebound customers of Uber Technologies more than doubled their orders from the company's food-delivery service in the second quarter but demand for ride-hailing trips only marginally recovered from pandemic rock-bottom.

The company's core business, ride-hailing, grew revenue only 2 per cent to $2.3 billion.

Uber reported a $1 billion loss as the ride-hailing service spends heavily to build up its food delivery and freight businesses, sending revenues up 20% in its first quarterly report as a public company.

Uber remains a private company, but routinely discloses some earnings information.

The shrinking losses reflect Uber's efforts to rein in massive spending on subsidies for both drivers and customers even as it battles rivals in tough markets like South Asia.

Uber Technologies has reported a loss of $1.78 billion in its Q2 2020 earnings owing to lockdowns imposed across the world thanks to the COVID19 pandemic. This has impacted its core ride-sharing massively. Year on year, its ride-sharing business collapsed by 73% compared to Q2 of 2019. On the bright side, with people staying in more, its UberEats, ...

Homebound customers of Uber Technologies more than doubled their orders from the company's food-delivery service in the second quarter but demand for ride-hailing trips only marginally recovered from pandemic rock-bottom.

The company's core business, ride-hailing, grew revenue only 2 per cent to $2.3 billion.

Uber reported a $1 billion loss as the ride-hailing service spends heavily to build up its food delivery and freight businesses, sending revenues up 20% in its first quarterly report as a public company.

Uber remains a private company, but routinely discloses some earnings information.

The shrinking losses reflect Uber's efforts to rein in massive spending on subsidies for both drivers and customers even as it battles rivals in tough markets like South Asia.