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New York (AFP)
Uber, the world leader in chauffeured passenger car (VTC) reservations, saw passenger travel regain momentum in the second quarter as the economy gradually recovered as deliveries continue to pick up.
Its activities are still in deficit, but the group still expects to achieve profitability by the end of the year.
The Californian company still generates most of its income with the distribution of groceries and meals from Uber Eats, which has exploded since the start of the spread of Covid-19: gross bookings for this activity (mainly revenue before deductions for taxes, tolls or various driver remuneration) rose 85% in the second quarter to reach $ 12.9 billion.
But gross travel bookings, which plunged with lockdowns and telecommuting before starting to show signs of recovery in the first quarter, jumped 184% in one year to $ 8.6 billion.
More than 1.5 billion trips have been ordered on the platform, 4% more than in the previous quarter and more than double the number of a year ago.
“We have invested in the recovery by investing in drivers,” Uber CEO Dara Khosrowshahi said in a statement: The number of monthly active drivers and couriers in the United States increased by nearly 420,000 between February and July.
– Incentives and phone calls –
To attract them, the group struggled, “by refreshing its marketing campaigns on the internet”, “by improving the incentives” and even “by directly calling people we had not seen for a long time,” he said. he clarified during a conference call.
Peak wait times are almost back to normal in cities like Miami, Atlanta and Dallas, Khosrowshahi said. They are still a little too high in big cities like New York, San Francisco and Los Angeles.
“Uber’s travel business is clearly on the way to recovery, but some ups and downs are to be expected due to the Delta variant, especially since many drivers are not yet completely comfortable in the city. ‘idea of transporting customers in their cars, “said Eric Haggstrom, analyst for eMarketer.
The Delta variant is a concern, acknowledged Mr. Khosrowshahi.
But where markets reopen, the group’s activity follows: the total amount of gross bookings in Sydney, New York, London and Paris was 30% higher in July than in July 2020.
The application counted at the end of June 101 million active consumers at least once a month, against 55 million a year ago. However, this is less than the 109 million expected by analysts.
Uber’s revenue doubled to $ 3.93 billion.
Its activities are still losing money: the group recorded a net loss before interest, taxes and depreciation of $ 509 million. This is 150 million more than in the first quarter.
But Uber could generate adjusted earnings before interest, tax and depreciation in the fourth quarter, said chief financial officer Nelson Chai in the statement.
The group’s action fell 6% in electronic trading on the New York Stock Exchange.
Uber, however, managed to post a net profit of 1.1 billion dollars in the second quarter thanks to the revaluation of its stakes in the Chinese groups Didi and American Aurora to the tune of approximately 1.9 billion dollars.
© 2021 AFP
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