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For Uber, Coronavirus Pandemic Is Still Weighing on Rides Business

For Uber, Coronavirus Pandemic Is Still Weighing on Rides Business

Uber Technologies Inc. posted another big loss as the coronavirus pandemic continued to batter its core ride-hailing business, though its shares rose

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Uber Technologies Inc. posted another big loss as the coronavirus pandemic continued to batter its core ride-hailing business, though its shares rose for a second straight day on the back of a key regulatory win in California.

Gross bookings for Uber’s rides declined 53% year-over-year in the three months that ended Sept. 30, the San Francisco-based company said after markets closed Thursday. That was better than the previous quarter, when rides were down 75%.

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This post first appeared on wsj.com

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