Uber’s Quarterly Sales Tumble, Ending a Decade of Growth
- Loss widens and revenue falls 29% in the second quarter
- Company maintains goal of quarterly adjusted profit in 2021
Photographer: Victor J. Blue/Bloomberg
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Uber Technologies Inc. generated more revenue from delivering food than transporting people for the first time last quarter, but it failed to offset a steep and prolonged decline in ridership brought on by the coronavirus pandemic.
Sales fell 29% in the second quarter to $2.24 billion, ending a decade of unchecked growth. The loss in the quarter also widened, but Uber maintained Thursday that it will achieve its goal of turning an adjusted profit by the end of next year.