Uber Sees ‘External’ Travel Returning More Quickly Than ‘Internal’
Ridesharing company reports continuing losses but with improving numbers >>
by: Harvey Chipkin
Uber expects “internal” business travel to return more slowly than “external” company travel, according to executives speaking on the ridesharing company’s fourth quarter earnings call. Dara Khosrowshahi, CEO, said it may take a couple of years for internal travel to come back because companies have cut down on it, and are using Zoom and other virtual platforms. He said that external travel, like salespeople going to visit clients, is going to see a much more rapid return to previous patterns, as companies realize that personal meetings are more productive than trying to win a client on Zoom. Uber reported a 16% year-over-year decline in revenue in the fourth quarter but 13% growth over the third quarter of 2020. Gross bookings in 2020 totaled $57.9 billion, down 11% from $65 billion in 2019. The number of trips amounted to 5 billion, down 27% from 6.9 billion in 2019.
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