Re:Lyft lays off 17% of workforce, furloughs hundreds more
by bhupy on Wednesday April 29, 2020 @02:30PM
(#23022521)
UberEats is up — higher than Rides even. They can raise prices to turn a profit if they really need (Instacart turned its first profit).
Uber operates globally (and owns minority stake wherever it doesn't operate), so as the world begins to gradually re-open, Uber will capture that revenue even if the US is still fucked.
Uber has $8B cash.
Uber rides were "adjusted EBITDA" profitable for 2 straight quarters before this — take "adjusted EBITDA" with a grain of salt, but it's also not "nothing".
Uber operates globally (and owns minority stake wherever it doesn't operate), so as the world begins to gradually re-open, Uber will capture that revenue even if the US is still fucked.
Uber has $8B cash.
Uber rides were "adjusted EBITDA" profitable for 2 straight quarters before this — take "adjusted EBITDA" with a grain of salt, but it's also not "nothing".