Uber's food-delivery business doubles; COVID-19 eviscerates rides demand

  • 📰 Reuters
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Uber Technologies Inc said demand for its food-delivery service more than doubled in the second quarter as many users remained largely homebound, while demand for ride-hailing trips was only marginally recovering from pandemic rock-bottom.

FILE PHOTO: Delivery bags with logos of Uber Eats are seen on a street amid the outbreak of the coronavirus disease in central Kiev, Ukraine May 27, 2020. REUTERS/Valentyn Ogirenko/File Photo

The company on Thursday posted a $1.8 billion net loss in the months from April to June, including charges related to the laying off of 23% of its global workforce during a period when infections of the novel coronavirus continued to spread in the United States, Uber’s largest market.Uber’s second-quarter revenue fell 29% to $2.24 billion from the year prior, beating analysts’ average estimate of $2.18 billion, according to IBES data from Refinitiv.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland Headlines