January 29, 2023
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, the বুক 1.2 billion gross booking for Uber’s business was slightly lower than the 1.3 billion in the previous quarter, the company said on Wednesday. The first-quarter figure represents a 91 percent year-over-year improvement.

Operated for Business Uber, an active part of the unit through Uber’s account manager and sales team, represents 27 percent of Uber gross bookings for business. 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. As an employee allowance. “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-on-year to $ 26.4 billion, dynamic 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 “general seasonal trends and effects from the Omicron variant”.

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

Trip grew 18 percent year-over-year to 7 1.71 billion in the quarter, about মিল 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, up from 98 million in the first quarter of 2021.

First-quarter revenue rose 136 percent year-on-year to $ 6.9 billion. The company had a net loss of $ 5.9 billion, including “5.6 billion headwind (pre-tax) on Uber’s equity investment. Revenue from the United States and Canada rose 147 percent year on year to $ 4.6 billion.

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 the rent and what exactly they are accepting or not accepting,” Khosroshahi said.

Related: Uber Q4 2021 earnings


Source link

Leave feedback about this

  • Quality
  • Price
  • Service


Add Field


Add Field
Choose Image
Choose Video