Uber Says It’s on Track to Maybe Make a Fake Profit

Uber says it’s set to break even or make an operating profit for the first time ever ahead of schedule—you know, on paper, so long as you squint your eyes at the books in the Uber-approved way. According to Reuters, Uber said on Tuesday that it expects to break even this quarter, according to its definition of “adjusted …

Uber’s profitability rides on Eats

WASHINGTON, Sept 21 (Reuters Breakingviews) – Uber Technologies’ (UBER.N) sooner-than-expected profitability depends on what’s under the hood read more . The company said on Tuesday its adjusted EBITDA could be as much as $25 million in the third quarter, sending the company’s shares up more than 6% in morning trading. But the details are important, and they are not disclosed. The …

Uber Eats, Postmates deploy tiered pricing structures

Dive Brief: Uber Eats and Postmates today announced a new tiered pricing structure, with 15%, 25% and 30% fee plans.  Uber Eats began testing new fee offerings in late 2020 based on feedback from partner restaurants, and the platform’s new pricing was created with input from thousands of U.S. operators, Sarfraz Maredia, vice president of …

Uber Eats for Business wants to deliver treats for hybrid workers everywhere

Getting some tasty incentives to return to the office could soon be more common following a major expansion from Uber for Business. The business arm of Uber is upgrading its Eats for Business platform to address the changes being encountered by businesses across the globe as workers increasingly shift to a hybrid working model that sees them …

Inside Instacart’s frenzied summer of unsuccessful dealmaking with Uber and DoorDash

Mike Kane/Bloomberg via Getty Images Instacart’s former CEO Apoorva Mehta suggested DoorDash acquire Instacart, source tells Insider. Incoming Instacart CEO Fidji Simo also got involved in DoorDash deal talks. DoorDash passed on the deal. Uber also passed on an app integration with Instacart. In early summer, Instacart’s co-founder and then CEO Apoorva Mehta reached out to …

Gig economy companies are having to spend more than ever to find hosts and drivers

In Airbnb’s earnings report on Thursday, the home-sharing company said sales and marketing costs in the second quarter jumped 175% to $315.3 million. DoorDash said its sales and marketing costs in the quarter climbed 154% to $427 million. Both companies are increasing marketing expenditures at a rapid clip to bring more supply into their marketplaces. …

Consolidation is coming for US food delivery, unless the government stops it first

To bolster its food delivery business, Uber has been on a dealmaking spree, looking to purchase companies that would expand its offerings. In the past year, the company has made a series of food and drink delivery acquisitions including Cornershop, Drizly, and Postmates. It has also formed several partnerships, including one exclusively with ultra-fast convenience …

FOD Delivery Price Inflation Test

Whether it’s headlines, grocery store receipts or your bank account, it’s hard to avoid noticing inflation in the United States has increased, reaching a 13-year-high in July. Personal experience has shown that includes meal delivery, too, as third-party providers remain under pressure to become profitable and restaurants struggle under the weight of an 18-month-long pandemic …

Uber Announces Results for Second Quarter 2021

Uber Technologies, Inc. (NYSE: UBER) today announced financial results for the quarter ended June 30, 2021. Financial Highlights for Second Quarter 2021 Gross Bookings grew 114% year-over-year (“YoY”) to $21.9 billion, or 104% on a constant currency basis, with Mobility Gross Bookings of $8.6 billion (+184% YoY) and Delivery Gross Bookings of $12.9 billion (+85% …

Uber beats estimates, but core business loses $509 million in Q2

Uber beat estimates on the top and bottom line and turned an unexpected one-time profit during the second quarter. Shares dipped more than 4% in after-hours trading. Here’s how Uber did, compared with expectations of analysts surveyed by Refinitiv: Earnings per share: 58 cents vs. an expected loss of 51 cents Revenue: $3.93 billion vs. $3.75 billion expected …