Uber lost $ 108 million, an improvement over the previous year, when it lost $ 2.9 billion. Uber attributed the change to the sale of its autonomous vehicle unit, which was acquired by autonomous truck startup Aurora in December. Uber’s operating loss for the quarter was $ 1.5 billion, also compounded by the British drivers’ deal.
On Tuesday, Uber’s main competitor in the United States, Lyft, said it was also recovering from the slowdown caused by the pandemic when riders began to return to the platform. Still, Lyft’s revenue for the quarter was $ 609 million, a 36 percent decrease from the prior year. Losses were $ 427.3 million, 7 percent more than the previous year’s losses.
“Uber is starting to shoot full blast as more consumers ride with us again as they continue to utilize our expanding delivery offerings,” Dara Khosrowshahi, Uber’s chief executive officer, said in a statement.
Uber’s stock price fell more than 4 percent in after-hours trading Wednesday night.
While consumers have avoided travel for the past year, Uber’s business has been bolstered by its food delivery service, Uber Eats. Delivery revenue was $ 1.7 billion, a 270 percent increase from the prior year. Despite reopening in Sydney and New York City, Uber said customers have continued to order food delivery at an accelerated rate.
But as riders have started heading back to Uber and Lyft, drivers have been more hesitant. Both companies said they have faced driver shortages. During a call Tuesday with financial analysts, Lyft Chairman John Zimmer said he hoped drivers who saw food delivery as a safer option during the pandemic would return to using public transportation because the pay is better. and because drivers do not interact with passengers.