Business
Uber earnings: losses top expectations for quarter during coronavirus – Business Insider – Business Insider
The ride-hailing giant was forced to lean heavily on Uber Eats, which saw a huge increase in demand during the pandemic as rides tanked.
Uber on Thursday reported second-quarter revenue that topped Wall Street’s expectations for the three-month period that bore the brunt of the coronavirus pandemic, but its overall losses exceeded expectations.
For the first time, food-delivery revenue topped ride-hailing revenue and all other segments, as the company leaned heavily on its Uber Eats business to make up for the coronavirus-related downturn.
Here are the important numbers:
- Earnings per share: $1.02 loss, versus $0.76 los…
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