Uber Narrows Loss on 28% Delivery Revenue Surge

After losing $968 million last quarter, Uber delivered improved first quarter earnings with a net loss of $108 million that was, as CNBC put it, a “tremendous improvement” from the fourth quarter of 2020 with delivery revenue up 28 percent over the Q4 2020 and 230 percent year over year. As the world begins moving …

Where have all the Uber drivers gone?

When the pandemic pushed him to quit driving for Uber, Steve Gregg didn’t know he might be done with the ride-hailing apps for good. But he was exhausted from the daily stress of driving, after taking passengers on more than 15,000 trips over three years. And he was frustrated over being nickel-and-dimed, seeing his wages steadily decrease. The added …

Uber and Gopuff link up on ‘everyday essentials’ e-shop

Dive Brief: Uber Eats is launching an “everyday essentials” online shop powered by Gopuff nationwide this summer, according to an announcement from the companies. The white-label shop will offer most of Gopuff’s product categories, with the convenience retailer’s dark store network and drivers fulfilling orders. The collaboration will launch in more than 95 cities in June and expand …

Uber and Gopuff Partner to Bring Everyday Essentials to Uber Eats

SAN FRANCISCO–(BUSINESS WIRE)–Uber Technologies, Inc. (NYSE: UBER) and Gopuff today announced an exclusive partnership for Gopuff to power a new everyday essentials experience on Uber Eats. Gopuff, the go-to solution for immediate everyday needs, delivers a diverse selection of everyday essentials to customers in more than 650 cities from its own 250+ micro-fulfillment centers. This partnership marries …

Uber and Lyft throw cash at drivers as they ditch the apps for food delivery

Throughout most of 2020, Uber and Lyft drivers didn’t have much work due to a pandemic that kept most people at home. But as countries ramp up vaccination efforts and people start doing things outdoors again in 2021, those ride-hailing companies are optimistic about a return to business as almost usual. Problem is, many of the drivers who power those …

Uber Drivers Are Entitled to Worker Benefits, a British Court Rules

Uber suffered a major defeat in one of its most important markets on Friday when Britain’s Supreme Court, in a ruling that could threaten the future of the already unprofitable company, said a group of drivers should be classified as workers entitled to a minimum wage and vacation time. The court’s decision, the latest in …

As Delivery Matches Rides, Uber Posts $968M Quarterly Loss

Two weeks after moving to buy Drizly, Uber announced its fourth-quarter financial results, which also included full-year results for 2020. The prime highlights are year-over-year delivery bookings up nearly 130 percent as food delivery has pulled even with its ride-sharing business. Even so, Uber reported a net loss of $968 million for the quarter, a …

UBER EATS EXTENDS ITS GROWTH STREAK

Uber Eats’ business continued to accelerate in the fourth quarter as the company narrowed its losses and once again outshined its ride-sharing counterpart. Gross bookings grew 18% quarter over quarter and 128% year over year, reaching $10.1 billion in the three months ending Dec. 31. Revenue increased 224% year over year, to $1.35 billion—nearly matching ride-sharing revenue, which …

Eats, Delivery pushing Uber toward profitability

Uber’s (NYSE: UBER) earnings results, announced on Wednesday, offer a mixed bag of news. On the Rides side, business continues to struggle to escape from the COVID-19 pandemic, but the remainder of the business is showing signs of strength. That led to CEO Dara Khosrowshahi declaring on CNBC Thursday morning that profitability is within sight, perhaps by the …

Uber losses narrow as delivery growth outpaces fall in ride-sharing

Uber’s losses are narrowing as delivery growth continues to outpace a drop in ride-sharing revenue. The company reported mixed Q4 2020 earnings on Wednesday, beating expectations on loss-per-share but falling short on revenue, according to Refinitiv estimates. For all of 2020, Uber’s net losses amounted to $6.77 billion, around a 20% improvement from a staggering …