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Al-Marsad Journal: Uber, the delivery service company, recorded a significant loss in the third quarter of this year as passenger delivery service was affected due to reduced demand from Corona.
The San Francisco-based company said the total number of flight bookings fell 53% year-on-year in the three months ending September 30 and that in the second quarter of the year bookings fell by 75%, according to Al Hurra.
The food delivery service has been Uber’s lifeline during the outbreak, according to the US Wall Street Journal, with bookings in Uber Eats’ delivery division more than doubling from year to year. other and increased by 23% compared to the previous quarter.
The increase was not enough to make up for the losses
But the increase was not enough to make up for the losses, as revenues fell 18% to $ 3.13 billion.
Net losses have narrowed this year to $ 1.09 billion from $ 1.16 billion last year, in part due to massive cost cuts, as Uber laid off about a quarter of its employees during the pandemic .
In the United States, bookings are down 60% year on year and flight bookings in Europe, the Middle East and Africa are down 36%.
Uber CFO Brian Roberts has warned that bookings in Europe could be affected in the fourth quarter, with the increase in Corona cases and the imposition of new lockdowns.
The company said it expects its business to improve next year, especially after purchasing Post Mets, a food delivery company, in a deal worth. $ 2.65 billion, and shares of Uber rose more than 2% on Thursday to close at $ 41.96.
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