UberEats certainly boosted the bottom line, as it helped bring in new customers. The number of people Uber delivered food to over the quarter rose by 140 percent from Q2 2018. "Over 40 percent of new Eats consumers had never used Uber's platform before," the company said.
Uber's net loss over the quarter amounted to $5.24 billion, but that's perhaps not quite as bad as it seems on the surface. The majority ($3.9 billion) is a result of stock-based awards to employees after its IPO in May. It also doled out a $298 million "driver appreciation award" related to the IPO. Even discounting those, Uber lost over $1 billion for the second quarter running.
By way of comparison, rival Lyft reported its earnings yesterday. It posted record quarterly revenue of $867.3 million, up 72 percent year-over-year. It lost $644.2 million overall. Making more money off each rider helped, though. Over the three months, it had 21.8 million active riders. They generated an average of $39.77 each -- that's an increase of $1.91 per person from the previous quarter.