Uber's CEO says that because U.S. driver supply has improved, surge pricing has fallen by nearly half and wait times are now below five minutes.
Uber Technologies Inc. said Thursday that third-quarter revenue grew in both of its major businesses across all regions as COVID-19 restrictions eased, but losses also more than doubled.
“This is especially important as Mobility reignites,” Chief Executive Dara Khosrowshahi said in a news release. “Mobility Gross Bookings are up 18 percent over just the last two months and this Halloween weekend surpassed 2019 levels.” Uber’s total revenue rose to $4.85 billion from $2.81 billion in the year-ago quarter, with its ride-hailing, delivery and freight businesses all bringing in more revenue. Analysts surveyed by FactSet had forecast revenue of $4.42 billion.
Analysts had forecast an adjusted loss of $665 million, or 33 cents a share, and adjusted Ebitda loss of $38 million.
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