Uber Posts Record Monthly Gross Bookings for March
April 12 2021 - 7:00AM
Dow Jones News
By Dave Sebastian
Uber Technologies Inc. said its gross bookings for March rose to
record high in its nearly 12-year history as vaccination rates
increase in the U.S.
The ride-hailing company Monday said its mobility business had
its best month since March 2020, crossing a $30 billion annualized
gross bookings run-rate. Average daily gross bookings rose 9%
month-over-month, the company said.
In its delivery business, the company said it crossed a $52
billion annualized gross bookings run-rate in March, growing more
than 150% from a year ago.
Uber said demand for its ride-hailing services is recovering
faster than driver availability, and that meal-delivery demand
continues to exceed courier availability. The company said it is on
track to reach profitability in quarterly adjusted earnings before
interest, taxes, depreciation and amortization in 2021.
The U.K.'s top court in February ruled that a group of former
drivers for Uber were entitled to a minimum wage and other benefits
while working for the company, dealing a setback to Uber and other
gig-economy firms in world-wide battles over their employment
model.
Uber has started a historical-claims settlement process for U.K.
drivers. The company said it expects to record the historical
claims and other-related costs in its first-quarter results,
reducing revenue.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
April 12, 2021 07:45 ET (11:45 GMT)
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