Uber Ridership Rebounds From Pandemic Lows

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Uber Ridership Rebounds From Pandemic Lows

The Wall Street Journal2021-08-05

Ride-hailing company still expects to reach a measure of profitability by fourth quarter despite driver shortage, Delta variant concerns. Uber Technologies Inc.’s Uber ridership rebounded strongly in ...

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Phoenix5104
·2021-08-05
hi
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1
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- 3nn:
  ?
  2021-08-05
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Jeremysee
·2021-08-05
Like and comment.
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3
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- Phoenix5104:
  ok
  2021-08-05
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- koolgal:
  ??
  2021-08-06
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Rickyt089
·2021-08-05
Like pls uberrr duperrr good
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4
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- ARIESan:
  Yeahh
  2021-08-05
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- Jeremysee:
  Ok
  2021-08-05
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JeffreyNeo
·2021-08-05
1
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4
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Fayedea
·2021-08-05
Latest
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- JeffreyNeo:
  1
  2021-08-05
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ReinAoki
·2021-08-05
To the ?
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James3128
·2021-08-05
Hi
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- James3128:
  Hu
  2021-08-05
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sfleong1
·2021-08-05
Like n comment
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- GohKS:
  Latest. Please like and comment. Thank you.
  2021-08-05
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Shadowrider
·2021-08-05
Pls like
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5
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- Achan:
  Wow
  2021-08-05
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cghtkh
·2021-08-05
pls like
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3
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- Shadowrider:
  OK
  2021-08-05
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Bimbala
·2021-08-05
Please like my comment..thank n have a great day ahead
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- Shadowrider:
  Ok sure
  2021-08-05
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NRN
·2021-08-05
??
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Jkan
·2021-08-05
Gogo
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- Darylzhuo:
  Yea
  2021-08-05
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kino318
·2021-08-05
Luckily cut loss earlier
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- TW1:
  Good
  2021-08-05
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- DLiew:
  ??
  2021-08-05
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Analysts polled by FactSet expected an adjusted loss before items of $322 million. Uber spent money in the quarter on incentives to woo drivers amid a shortage that has driven up passenger fares. Its shares fell more than 5% in after-hours trading.\nRival Lyft, Inc. on Tuesday turned its first quarterly profit on that basis. The company hit that milestone a quarter earlier than expected, in part because ridership rebounded and it reined in costs.\nUber’s rides business is profitable by that measure, but its bottom line is dragged down by its capital-intensive food-delivery business. The company said it sees its loss by that measure narrowing to less than $100 million in the current quarter, and that it remains on track to post a profit by that measure by the fourth quarter.\nUber is among the companies that were both walloped by the pandemic, as cities went into lockdown and ridership plummeted, and benefited from people stuck at home turning in record numbers to food delivery. 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It said it expected third-quarter bookings between $22 billion and $24 billion, in line with analysts’ average estimate of $23 billion.\nBookings allow the company and investors to gauge consumer demand since they represent the total value of trips or food booked on Uber’s platform. The company earns revenue by taking a cut from bookings. Second-quarter revenue more than doubled.\nThe company posted a rare net profit of $1.1 billion on the back of gains from its investments in DiDi Global Inc.. DIDI and Aurora Innovation Inc. But Didi’s continuing woes with regulators in China may negatively affect Uber’s net income in the third quarter.\nA near-term challenge for Uber and Lyft is wooing drivers back to their platforms and containing skyrocketing passenger fares. Lyft said third-quarter revenue would be hurt by its spending on driver incentives, which it hopes will alleviate the continuing shortage and drive down fares in the near term. Its shares fell more than 10% Wednesday on that guidance.\nUber said it didn’t plan to spend significantly more on incentives in the third quarter. It told analysts Wednesday that new driver additions in the U.S. in July grew 30% from the previous month, even as it pulled back on some incentives. Lyft said 50% more drivers had returned to the platform in the second quarter over the first quarter.\nAs part of its path to profitability, Uber cut staff and shed noncore businesses. It has also looked for ways to strengthen its booming delivery business, which became a lifeline during the health crisis. More recently, it has expanded into delivering everything from groceries and flowers to drugs.\nUber said in February it was buying alcohol-delivery service Drizly for $1.1 billion in stock and cash to expand beyond meal delivery. That came after last year’s $2.65 billion deal for smaller food-delivery rival Postmates Inc.\nThe company last month also said it was investing in its growing logistics operations with the $2.25 billion acquisition of technology-focused services provider Transplace in a cash and stock 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pls uberrr duperrr good","listText":"Like pls uberrr duperrr good","text":"Like pls uberrr duperrr 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