Uber is still getting hammered by COVID, though things are looking slightly better

Illustration by Alex Castro / The Verge

Uber is still getting pummeled by COVID-19. The company lost $1.089 billion over the last three months, with its adjusted net revenues down 18 percent compared to Q3 of 2019.

Gross bookings in its ride-hailing division, or the amount of money it takes in before paying drivers, fell 10 percent year over year. It’s a major improvement over the second quarter, in which Uber’s ride-hailing business was down 73 percent year over year. But there was no mistaking the impact of the coronavirus pandemic on the company’s core transportation business.

Meanwhile, gross bookings in its Uber Eats delivery business grew 134 percent year over year, thanks to increased demand for food and grocery deliveries.

It wasn’t as grim a quarter as the first…

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via The Verge – All Posts

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