Skip to content
Subscriber Only

Uber’s Pandemic Delivery Boom Fails to Offset Drop in Rides

  • Revenue declined 16% to $3.17 billion in fourth quarter
  • Company narrowed loss in the period, reiterates profit target
Video player cover image
Uber Benefiting From Diversification: NYU's Sundararajan
Updated on

Uber Technologies Inc. reported declining revenue in the fourth quarter, showing that demand for food delivery isn’t making up for a falloff in ridership.

Sales dropped 16% to $3.17 billion, short of an average of analyst estimates compiled by Bloomberg. Performance in Canada, Latin America and the U.S. was particularly dismal. The stock was down about 2.5% Thursday morning in New York.