Uber’s food delivery business outshines cab services

Uber’s food delivery business brought in more money during the third quarter than its signature rides business , showing just how much consumer behavior has changed — and how far the company has adapted — since the pandemic struck.

The San Francisco-based ride-hailing company lost $1.09 billion in the third quarter as many customers continued to stay out of shared vehicles.

Uber brought in $3.13 billion in revenue, down 18 per cent from the same time last year. Its mobility business, which includes ride-hailing, scooters and bikes, brought in $1.37 billion during the quarter, down 53 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 $790 million.