Friday, 24 March, 2023

Uber India earnings take a plunge due to second wave of COVID-19

<p>The US-based cab aggregator Uber released a statement mentioning the downfall experienced by them in India due to the pandemic and new lockdown rules. Uber CFO said the performance in major cities in India expected a drop of 30-40%, which is in contrast to that of the US and the UK which have managed to recover 62% and 80% respectively, compared to April 2019. Uber&#39;s overall bookings grew 24% YoY to $19.5 bn in the March quarter, of which the food delivery business drove $12.5 bn.</p>