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Uber reduces losses on food delivery expansion, modest uptick in ride bookings

Uber Technologies Inc on Wednesday posted a narrower loss as its ride-hail and delivery businesses rebounded slightly from pandemic lows, and the company said it was well on track to reach its goal of achieving an adjusted profit by year-end.

Uber reduces losses on food delivery, modest uptick in ride bookings

By Tina Bellon and Akanksha Rana NEW YORK (Reuters) - Uber Technologies Inc on Wednesday posted a narrower loss as its ride-hail and delivery businesses rebounded slightly from pandemic lows, and the company said it was well on track to reach its goal of achieving an adjusted profit by year-end. Uber said customers in cities outer boroughs and suburbs had returned to its rides platform during the quarter. Nearly complete recoveries in markets including Brazil and Australia point to leisure travel to restaurants and cultural events bouncing back quickly once the pandemic ends, with business travel returning more slowly, as many employees continue to work from home.

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