Uber: Revisiting The Profitability Forecast, And It’s Only Worse

Summary Uber originally aimed to have a break-even in adjusted EBITDA by 2021, but the first two quarters have that figure down $181 million YoY. Rides bookings are down 73.88% since Q4 2019, while contribution to adjusted EBITDA is down 92%. Eats bookings have grown 122% YoY, but adjusted EBITDA for the segment is still […]

Uber Eats grows its restaurant partner roster by 50%

Dive Brief: Uber reported a 103% year-over-year revenue increase for Uber Eats as part of its Q2 earnings Thursday, according to a company release. Comparatively, Uber’s ride-hailing business saw a revenue decline of 67%.  Active partnered restaurants on Uber Eats crossed the 500,000 mark in June, up 50% year-over-year. The company added enterprise accounts including Baskin […]

Lafayette-based Waitr beats second-quarter estimates, posts record $10.7 million profit

Lafayette-based food delivery service Waitr announced Thursday its second quarter results beat earlier estimates, posting a $10.7 million in its official results instead of the $8 million estimated earlier. The second quarter marked Waitr’s first profitable quarter since the company went public in 2018. Waitr’s preliminary results in early July estimated the $8 million profit for the company. In the […]

Uber shares drop 4% after it loses more money than expected in Q2

Image Credits: ANTHONY WALLACE Today after the bell, American ride-hailing giant Uber  released its second-quarter results. The company’s revenue fell compared to both the year-ago quarter (Q2 2019), and the sequentially preceding period (Q1 2020). Investors had anticipated Uber’s declines due to COVID-19, and the company had spent time earlier this year assuring the investing public that it had enough cash […]

Grubhub Reports Shaky Growth Going into JET Transaction

Grubhub (NYSE: GRUB) reported strong second-quarter results and gave a few updates on the Just Eat Takeaway.com (JET) transaction. The company released the results without an earnings call as the company has chosen not to hold calls until the close of the JET acquisition. Revenue and user growth continued on the solid trajectory seen in […]

Constituents, Industry Best Practices Guide Waitr’s Turnaround

When Waitr (NASDAQ: WTRH) pre-announced its second quarter results, it looked like a starkly different company than it did at the beginning of 2020. But it wasn’t the new popularity of delivery during the COVID-19 pandemic that got the company back on track, it was tough decisions, thoughtful exploration and seeing what the core constituents […]

Restaurant Revolution: How the Industry Is Fighting to Stay Alive

It’s never been easy to make money in the restaurant industry. A highly fragmented sector dominated by 70 percent independent owners and operators, the average restaurant’s annual revenue hovers around $1 million and generates an operating profit of just 4-5 percent. A financially sustainable business model for small independents is often elusive. So when a […]

Uber Eats to Waive Restaurant Fees for the Rest of 2020

Uber Technologies (NYSE: UBER) will allow restaurants to add online ordering to their websites, for delivery through Uber Eats, at no cost for the rest of the year. The food delivery specialist said the coronavirus pandemic has given it a new understanding of the importance that delivery has in the restaurant industry’s survival. But the third-party delivery […]

Waitr Pre-Announces Strong Second Quarter

Waitr, the Louisiana-based company that acquired Bite Squad and went public in 2018, shared some strong results ahead of its quarterly release after several difficult, money-losing quarters. According to Carl Grimstad, Waitr’s chairman and CEO, the strong performance is part COVID-19 and part sweeping changes the company undertook in late 2019 and early 2020. Those […]

Restaurant Cooperative Chomps Back at High Delivery Commissions

We’ve written extensively about the local food scene in this space. Late last week we covered the acquisition of GrubHub by JustEat Takeaway and the recent rounds of cash DoorDash and InstaCart raised. One of the great things about our interconnected world is that sometimes a post like last week’s will be read by someone doing something very interesting in […]