Thursday, May 23

Uber Again Bleeds Nearly Two Billion

In its results, Uber has to record $ 1.8 billion in loss after a corona quarter. Only the company’s home delivery services are doing well.

 

Delivery services doubled for Uber in the past quarter, while ride services were down 75 percent.

In itself, this is not surprising for a quarter in which large parts of the world were in ‘lockdown’, but the order of magnitude remains striking.

Revenues from Uber’s rideshare service decreased from $ 12.2 billion in the same quarter last year to $ 3 billion this year. That could not be made up for by booming delivery services.

Revenues from home deliveries did double, from $ 3.4 billion to $ 7 billion in the past quarter. In total, the company records $ 1.8 billion in losses.

However, that is ‘normal’ for Uber. Not counting expenses for significant acquisitions, the company has been bleeding about a billion dollars a quarter for several years.

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