Connected_MobilityConnected Mobility

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Author: Nicole Schlosser
Publication Date: Aug 26 2021
Pages: 14
Report Type: Insight, Word
Connected Mobility

Uber’s Q2 Earnings Reveal a Slight Comeback and Bets on a Delivery, Transit Transition

Report Summary:

The ride-hailing giant reported that gross bookings were at an all-time high, but Uber still has not captured the levels it realized at the end of 2019. Heavy investment in driver incentives to mitigate a driver shortage just as riders were returning to using ride-hailing services strained the company’s efforts to become profitable, as it weathered an adjusted EBITDA loss of USD $509 million.

Uber’s strategy to attain profitability as the pandemic continues appears to be one of hedging its businesses, with delivery picking up mobility’s slack, and investing heavily in delivery-related acquisitions and transit integration partnerships with the aim of becoming a one-stop-shop for all things transportation.

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