Uber Ride-Sharing Revenue Plummets, Food Delivery More Than Doubles


During the period ending June 30, 2020, the coronavirus pandemic continued to limit people’s travel and commuting, and to weigh heavily on Uber’s core ride-hailing business, sending gross bookings down 73% in constant currency measurements. The pandemic did drive demand for Uber’s food delivery business, however, and bookings were up 113% there.

On an earnings call Thursday, CEO Dara Khosrowshahi said, “The Covid crisis has moved delivery from a luxury to a utility.” He believes Uber users will continue to order food and other items through Uber delivery services even after the pandemic subsides, and stay-at-home orders are lifted.

Read more at CNBC.



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