Uber limits losses in first quarter of 2021

Ride-hailing company Uber is still struggling with the impact of the coronavirus pandemic but managed to significantly reduce its losses in the first quarter of 2021, reporting a net loss of $108 million.

In the same quarter last year the net loss amounted to nearly $3 billion.

The results benefited from the sale of the company’s self-driving technology arm ATG.

The main business continued to struggle due to the pandemic, with revenues falling by 65 per cent.

Overall, group-wide sales fell by 11 per cent to $2.9 billion.

Boss Dara Khosrowshahi said he was satisfied despite the significant decline, emphasizing that the business had already recovered quite well.

“Uber is starting to fire on all cylinders, as more consumers are riding with us again while continuing to use our expanding delivery offerings,” he said.

Source: GNA