November 26, 2022
Chicago 12, Melborne City, USA

Shaking off Omicron, Uber for Business recovery accelerates


Despite the negative impact of the Covid-19 Omicron variant at the beginning of the first quarter, Uber’s gross bookings for Uber’s business for this period were slightly less than US $ 1.2 billion in the previous quarter, সংস্থা 1.3 billion, the company reported on Wednesday. The first-quarter figures represent a 91 percent year-over-year improvement.

Uber for Business, which is an active part of the unit through Uber’s account manager and sales team, represents 27 percent of Uber for Business gross bookings. According to the company, “Overall Unit Ride and Delivery Gross Bookings have reported strong growth year after year due to” continued growth in corporate mobility and delivery usage. ”

During the quarter, Uber added its Uber One membership program to its Uber for Business platform, which “serves 170,000 companies worldwide, including 60 percent of the Fortune 500,” Uber CEO Dara Khosroshahi said in a statement, adding that it could be an employee allowance. Used as. “We’re seeing enough runways to subscribe through this channel.”

Also, the company has launched Uber One internationally in Germany and Mexico and expects “more launches soon”.

Uber’s first-quarter gross bookings rose 35 percent year-over-year to $ 26.4 billion, mobility gross bookings rose 58 percent to $ 10.7 billion, and delivery gross bookings rose 12 percent to $ 13.9 billion. On a hierarchical basis, mobility bookings declined 5 percent, driven by “effects from general seasonal trends and omicron variants”.

“Our mobility business has reached an all-time high [earnings before interest, taxes, depreciation and amortisation] Despite high gas prices and continued competition for labor, margins in Q1, “Khosroshahi said.” Also, in April, we reached the next epidemic of dynamic gross bookings and epidemics for active drivers. ”

Quarterly trips grew 18 percent year-over-year to 7 1.71 billion – an average of about 19 million per day – according to the company, but 3 percent less than in the previous quarter. Monthly active platform subscribers grew 17 percent year-on-year to 115 million from 98 million in the first quarter of 2021.

First-quarter revenue rose 136 percent to $ 6.9 billion. The company had a net loss of $ 5.9 billion, including a “$ 5.6 billion headwind (pre-tax) related to Uber’s equity investment.”

Revenue in Europe, the Middle East and Africa (EMEA) rose to $ 1.1 billion in the first quarter of 2022, following a change in the মডেল 200 million UK business model. Revenue from the same quarter last year was affected by $ 600 million in savings to address historic claims in the UK regarding the classification of drivers.

The company’s Wednesday earnings call was only a question-and-answer session, as Uber released comments prepared before the call. Khosroshahi noted that the company had expected the need to increase the number of drivers on the platform last year and had “leaned very aggressively” with incentives. The company followed suit with product innovations to help drivers make quick money.

“We have led the company towards earnings-oriented, innovation for earners, thinking about earners experience, treating earners with respect and dignity, and building for them versus building for the company,” he said.

One of these innovations is Uber’s “upfront fare”, which allows drivers to see the customer’s destination before taking a trip. The price will be partially determined based on the potential return fare driver’s price. If it is a trip “on the outskirts of a neighborhood, we will determine the price of the trip so that the earner can get a fair price for that rent and what exactly they are accepting or not accepting,” Khosroshahi said.


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