Uber Technologies Inc. said it sees high demand recovering faster than driver availability as Covid-19 vaccination rates rise in the US
The company said Monday that its gross bookings for March had risen to their highest monthly level in nearly 12 years. Uber’s mobility business, which includes travel, had the best month of March 2020, he said.
Uber revised its business during the health crisis, cutting about a quarter of its staff and eliminating non-core businesses, among other moves, saving it $ 1 billion in fixed costs last year.
The company said demand continued to exceed courier availability for its meal delivery business. The delivery business, combined with cost reductions, helped cushion the impact of the pandemic on Uber’s core operations during the pandemic, and the company posted a smaller year-round loss in February.
Uber said it is on track to make a profit on quarterly adjusted earnings before interest, taxes, depreciation and amortization this year. The company said earlier this month that it was spending $ 250 million in bonuses in an effort to increase short-term driver availability.