As COVID-19 vaccines are becoming more available, things are "returning to normal" for ride-hailing companies like Uber. According to The Wall Street Journal, Uber's "mobility" business, which includes ride-hailing bookings, had its best month since March of 2020, when the pandemic hit hard in the US. Overall, Uber had a record March, with total gross bookings hitting their highest-ever level in the company's history.
Uber's meal-delivery service continues to be a strength in these pandemic times, as well, with the company telling the WSJ that demand is outstripping courier availability. That's not too surprising, as Uber's various delivery services have been a major saving grace in a year where rider bookings plummeted.
The timing of this news is somewhat unusual, as Uber is scheduled to report its quarterly earnings in early May. But talking about record-breaking months could help buoy its stock price and also help the company get more drivers and delivery people back on the road as demand likely continues to ramp up. That is, of course, assuming that coronavirus infections don't continue to rise rapidly yet again in the US. Uber may have gotten some positive news, but it's far from a sure thing that the trends don't change again.