Uber: record business in March

(CercleFinance.com) - The Uber Technologies stock could be in for a nice ride on Monday on the New York Stock Exchange after announcing record billings for the month of March.


The US ride-hailing giant said its on-demand ride-hailing ("Mobility") business had its best month since March 2020, with total billings exceeding 30 billion dollars over the month.

The on-demand meal delivery business ("Delivery") set an all-time high with total billings of over 52 billion dollars in March, a 150% y-o-y leap.

As the US vaccination rate increases, we are seeing consumer demand for mobility services recover faster than driver availability and demand for delivery services continues to outpace courier availability, the group said.

The San Francisco-based company - which recently decided to improve its driver benefits and reclassify its drivers in the UK as "workers" - still expects to deliver record operating profitability this year.


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