2, adding that its global driver and courier base grew 31% from last year to almost 5 million.Ī key advantage against rival Lyft is Uber’s food-delivery business Uber Eats, which boomed during the pandemic just as ride-hailing demand cratered. The company saw an acceleration in active and new driver growth, Khosrowshashi said on a conference call on Aug. Want more news? Listen to today's daily briefing above or go here for more info
Rising fuel prices have led drivers to cut down on the number of hours they are on the road. The imbalance between drivers and passengers has led to longer wait times and higher fares for customers. Instead, the company has focused on improving its app by unlocking drivers’ ability to see a fare and a passenger’s destination. Uber, which has struggled with a persistent shortage of drivers over the past year, has gradually decreased the extra spending on bonuses and incentives it was forced to offer to lure people back. Khosrowshahi said in May the company is “recession resistant,” but it has still taken steps to keep costs in check, by treating “hiring as a privilege.” Lyft also said it plans to significantly slow hiring and cut expenses. Uber shares declined 43% this year through the close on Aug.
At the same time, aggressive interest rate increases by the Federal Reserve have made unprofitable companies like these very much out of favor with investors. are confronting inflation levels that are the highest in four decades and the specter of an economic downturn that could dampen demand, just as it was starting to recover after the rocky months of COVID shutdowns. Uber and gig-economy peers like Lyft Inc. Khosrowshahi said the number of consumers and earners using Uber are both now at a record.
Uber reported 122 million people used the platform monthly, surpassing the 120.5 million analysts expected. Adjusted earnings before interest, tax, depreciation and amortization rose $873 million to $364 million, far exceeding expectations. In the three months ended June 30, Uber reported gross bookings, which encompass ride hailing, food delivery and freight, increased 33% to an all-time high of $29.1 billion.
0 kommentar(er)
