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Uber Sees Doubling in UberEats Operations as Ride Hailing Business Stays Low
On August 6, Uber Technologies Incorporated (San Francisco, CA) announced its quarterly earnings results. The company's UberEats unit remains the bright spot for the company, seeing revenue doubled to $1.2 billion as Americans continue to stay at home despite changes in restaurant operation across various states since April. This is in contrast to the ongoing sharp declines in the company's flagship ride-hailing unit as fewer riders and drivers in the US returned to the platform despite improvements in other countries where coronavirus effects are currently more muted...
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