With lockdowns still in effect in various parts of the world, Covid-19 is changing how Uber operates.
Most notably, its Uber Eats delivery business is now bigger than the Uber ride-hailing service. In the second quarter, gross bookings for mobility (aka Uber rides) declined 75% from the same quarter last year to just over $3 billion, while delivery gross bookings (aka Uber Eats) more than doubled to $6.96 billion. The delivery business also eclipsed rides in revenue, at $1.21 billion versus $790 million.[O]ur delivery business alone is now as big as our rides business was when I joined the company in 2017,” Uber CEO Dara Khosrowshahi said on a conference call with analysts and investors to discuss the company’s second-quarter results. “We’ve essentially built a second Uber in under three years.”
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