Aug 6, 2020

Coronavirus: Uber customer activity falls sharply

Uber has been working to offset the collapse of its core taxi business due to the pandemic by increasing its food delivery operations. Uber said Uber Eats revenue doubled to $1.2bn in the quarter, as people worried about coronavirus continued to order in rather than eat out. Revenue Uber collected from trips fell 67% to $790m, while gross bookings - the total dollars from the trips - were down 75% to $3bn. In cities where the virus is under control, demand has bounced back, Mr Khosrowshahi said. Uber said its losses had narrowed to about $1.8bn, from $5.2bn a year ago, when its listing on the stock exchange swelled costs. Mr Khosrowshahi said he thought the firm had a "Strong path" to fight those claims or win support among state voters for legislation that would overturn a California law intended to force Uber to change its driver classification.

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