Gross bookings would decline slightly in this quarter from the fourth quarter of last year, chief financial officer Nelson Chai said. For the fourth quarter, Uber edged out Wall Street’s expectations, with bookings up 28 percent and a loss that was narrower than analysts’ estimates. Gross bookings for the fourth quarter were US$18.1 billion, showing that demand for transportation and food delivery orders remains strong. Eventually, Uber Eats expects to reduce discounts for customers, which would drive a decline in spending by next quarter. “It’s just running a year behind.”The ride-hailing business was profitable on a standalone basis in the fourth quarter, Uber said.

Source: Taipei Times February 07, 2020 15:56 UTC