Uber loss narrows as it hopes to rev shared rides

Uber on Wednesday reported that it narrowed its quarterly loss by selling its self-driving tech unit and said its pandemic-battered rideshare business is starting to regain speed.

The San Francisco-based company said its net loss in the recently ended quarter shrank to $108 million, with help from the sale of its automated driving unit for $1.6 billion. A year ago, Uber’s loss was a staggering $2.9 billion.

Overall bookings at the company grew 24 percent to $19.5 billion, driven by strong growth in its Uber Eats delivery unit.

The mobile unit that includes smartphone-summoned car rides saw gross bookings of $6.8 billion, down some 38 percent from the same period last year, the earnings report showed.