Uber's food delivery business outshines core rides service
Uber's food delivery business brought in more money during the third quarter than its signature rides business , showing just how much consumer behavior has changed — and how far the company has adapted — since the pandemic struck.
The San Francisco-based ride-hailing company lost $1.09 billion in the third quarter as many customers continued to stay out of shared vehicles.
Uber brought in $3.13 billion in revenue, down 18% from the same time last year. Its mobility business, which includes ride-hailing, scooters and bikes, brought in $1.37 billion during the quarter, down 53% from the same time last year. Despite the decline, the rides business showed improvement from the second quarter, when it brought in just $790 million.
Its Eats business generated $1.45 billion in revenue, up 125% from a year ago as restaurants relied on Uber for delivery and the trend of people ordering in instead of dining out during the pandemic continued.
