Photo / Getty ImagesUber's food delivery business brought in more money during the third quarter than its signature rides business, showing just how much consumer behaviour has changed — and how far the company has adapted — since the pandemic struck. The San Francisco-based ride-hailing company lost US$1.09 billion (NZ$1.61 billion) in the third quarter as many customers continued to stay out of shared vehicles. Uber brought in US$3.13 billion in revenue, down 18 per cent from the same time last year. Despite the decline, the rides business showed improvement from the second quarter, when it brought in just US$790 million. Uber's food delivery business also brought in more revenue than its rides business in the second quarter, when demand for rides was even lower due to the pandemic.

Source: New Zealand Herald November 05, 2020 21:24 UTC