Uber Eats Hopes Drones Can Lift It to Profitability
55 years ago

Uber Eats Hopes Drones Can Lift It to Profitability

Wired  

Come next summer, the most remarkable thing about your home-delivered late-night California burrito won’t be the French fries inside. It’ll be that the San Diego speciality made part of its journey by drone, as part of a scheme to pull Uber’s food-delivery business financials out of a nosedive. The idea, then, isn’t to replace human drivers: Even Uber’s longterm plans call for drones to drop food into some sort of case atop a human-operated car. “We don’t need to get the drone direct to our customers or consumers,” Uber flight operations lead Luke Fischer said at Uber’s Elevate conference in June. The Federal Aviation Administration has given Uber permission to test its drones in San Diego, but the agency isn’t about to let the drones fly all over the country, limiting their usefulness.

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History of this topic

Uber unveils first buyback plan worth $7 billion after full-year profit in 2023
10 months, 3 weeks ago

Uber unveils first buyback plan worth $7 billion after full-year profit in 2023

Live Mint  

Uber Technologies Inc. will buy back as much as $7 billion in shares to return capital to shareholders after reporting its first full year of operating profit and consistent positive free cash flow in 2023. But last week, Chief Executive Officer Dara Khosrowshahi said 2023 was an “inflection point” and signaled he would return capital to shareholders. “If you are …

DoorDash, Uber Eats and Grubhub all go down causing takeout panic across the US
1 year, 4 months ago

DoorDash, Uber Eats and Grubhub all go down causing takeout panic across the US

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The popular food delivery …

Uber trips up 24% to 2.1 billion in Q1, sales grow 29% to $8.8 bn
1 year, 8 months ago

Uber trips up 24% to 2.1 billion in Q1, sales grow 29% to $8.8 bn

Business Standard  

Ride-hailing major Uber reported a 24 per cent increase in trips to 2.1 billion during the first quarter of 2023, or approximately 24 million trips per day on average. According to Uber CEO Dara Khosrowshahi, the company significantly accelerated Q1 trip growth to 24 per cent from 19 per cent last quarter, with "mobility trip growth of 32 per cent …

Uber looks to boost digital ad revenue with new advertising division
2 years, 2 months ago

Uber looks to boost digital ad revenue with new advertising division

The Hindu  

Uber Technologies Inc. has launched a new advertising division as the ride-hailing firm looks to diversify its revenue sources through tie-ups with brands and marketers. With a reach of 122 million monthly active users globally, the company said on Wednesday it will sell ad space inside its ride-hailing and UberEats apps, along with in-vehicle digital ads, "While consumers are making …

Uber posts 4Q profit as ride-hailing service bounces back
2 years, 10 months ago

Uber posts 4Q profit as ride-hailing service bounces back

Associated Press  

SAN RAMON, Calif. — Uber’s ride-hailing service edged closer to returning to its pre-pandemic levels during the final three months of last year, but its prospects remain clouded by the future direction of the novel coronavirus that has plagued its business. But Uber’s forecast for the current January-March period was slightly below what Wall Street had been hoping, suggesting that …

Uber’s Now a Food Delivery Company—and It’s Still Losing Money
55 years ago

Uber’s Now a Food Delivery Company—and It’s Still Losing Money

Wired  

Since a company called UberCab took to the streets of San Francisco almost a decade ago, Uber has been many things: an app-powered black car service for self-described “ballers”; a slayer of taxi companies; a scandal-ridden stand-in for Silicon Valley ills; a vehicle to transfer VC-funded joyrides to the masses. Amid a pandemic that’s kept workplaces, restaurants, and bars closed …

Uber rides take coronavirus hit but food-delivery business doubles
4 years, 5 months ago

Uber rides take coronavirus hit but food-delivery business doubles

Live Mint  

Homebound customers of Uber Technologies Inc more than doubled their orders from the company's food-delivery service in the second quarter but demand for ride-hailing trips only marginally recovered from pandemic rock-bottom. The company on Thursday posted a $1.8 billion net loss from April through June, including charges related to laying off 23% of its global workforce during a period when …

Uber to cut 3,000 more jobs in second round of layoffs; 'made incredibly difficult decision to reduce workforce', says CEO in mail to employees
4 years, 7 months ago

Uber to cut 3,000 more jobs in second round of layoffs; 'made incredibly difficult decision to reduce workforce', says CEO in mail to employees

Firstpost  

Uber Technologies Inc, the San Francisco-based ride-hailing company, is laying off 25 percent of its staff. It will cut a total of 6,700 jobs, including the 3,700 it had announced earlier this month, Chief Executive Officer Dara Khosrowshahi said, adding that the company plans to reduce investments in several “non-core projects,” according to Reuters. He said Uber must establish itself …

Uber posts massive losses, to lay off 3,700 employees; banks on food-delivery momentum
4 years, 8 months ago

Uber posts massive losses, to lay off 3,700 employees; banks on food-delivery momentum

Firstpost  

Uber recorded $3.54 billion in total revenue for the first three months of the year, roughly in line with analyst estimates, but still posted a $2.9 billion loss in the period. Uber Eats recorded a $313 million loss in adjusted EBITDA in the first quarter, reducing losses by 32 percent from the previous quarter. Uber said new deals with large …

Uber Eats focusses on aggressive expansion in India
5 years, 1 month ago

Uber Eats focusses on aggressive expansion in India

India TV News  

Uber Eats, the food delivery unit of Uber, on Friday said it is focussing aggressively on expanding its presence in India, a market that is expected to become a USD 15 billion opportunity over the next few years. India is fundamental to Uber's growth and we have a stable and massive rides business and we don't see a reason why …

Uber Q3 revenue shoots up to 30 percent to $3.81 billion, Uber Eats acts as a boon
5 years, 2 months ago

Uber Q3 revenue shoots up to 30 percent to $3.81 billion, Uber Eats acts as a boon

Firstpost  

Revenue from Uber’s ride-hailing business rose to 19 percent while sales from its Uber Eats rose 64 percent. Uber Technologies Inc on Monday beat Wall Street estimates for third-quarter revenue, as more people used its ride-hailing and Uber Eats restaurant delivery service. Total revenue rose nearly 30 percent to $3.81 billion, beating analysts’ average estimate of $3.69 billion, according to …

Uber earnings: company lost more than $1 billion in the third quarter
5 years, 2 months ago

Uber earnings: company lost more than $1 billion in the third quarter

CNN  

New York CNN Business — Uber is still reporting steep losses but its revenue growth is showing some promise. On Monday, the ride-hailing company <a href="https://investor.uber.com/news-events/news/press-release-details/2019/Uber <a href="> -Announces-Results-for-Third-Quarter-2019/default.aspx” target=”_blank”>reported it lost $1.16 billion during the third quarter including $401 million in stock-based compensation expenses related to its public offering in May. On a conference call with analysts to discuss …

Uber won’t be profitable for years, and we’re not going to have a huge profit margin, says CTO
5 years, 6 months ago

Uber won’t be profitable for years, and we’re not going to have a huge profit margin, says CTO

CNN  

Hong Kong CNN Business — Uber will take at least “a few years” to become profitable, according to one of the ride hailing firm’s top executives. The industry right now “is very competitive,” Uber’s chief technology officer Thuan Pham said at a tech conference in Hong Kong on Tuesday. “We have local competitors everywhere trying to aggressively expand to grow …

Uber Eats getting embedded into main app: Report
5 years, 7 months ago

Uber Eats getting embedded into main app: Report

Live Mint  

San Francisco: Ride-hailing major Uber has embedded the web version of its food delivery app — Uber Eats — into the main application in select markets. "We're rolling out a new way to order Eats directly in the Uber app on Android," an Uber spokesperson was quoted as saying by the TechCruch on Wednesday. San Francisco-based Uber had more than …

A Bet on Uber Is a Bet on Self-Driving
5 years, 7 months ago

A Bet on Uber Is a Bet on Self-Driving

Wired  

On Friday morning, Uber executives rang the opening bell of the New York Stock Exchange as their 10-year-old, $82 billion company went public. But the most important activity Friday for Uber’s future may happen 370 miles away, in Pittsburgh, headquarters of the company’s Advanced Technologies Group. If it works, that self-driving technology might finally lead the ride-hailing company to the …

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