But, as we’ve been staying home, a lot more people are ordering food delivery, and that showed up in Uber’s financials as well. Gross bookings from its delivery segment more than doubled, growing 125 percent year-over-year to $1.5 billion. Total revenue for the company across all its segments declined 18 percent year-over-year — a significant drop, but it’s undeniable that Uber Eats kept that loss from being much more significant.
Broadly speaking, Uber saw overall gross bookings plummet in March, but they’ve been steadily recovering since then, another reason the company is remaining optimistic about the future. But with COVID-19 infection rates skyrocketing around the United States again, it’s definitely hard to say if that recovery will continue.
Another point in Uber’s favor this week was the passage of Proposition 22 in California, which allows Uber and other similar companies to continue classifying its drivers as contract workers rather than full-time employees. On today’s conference call with investors, CEO Dana Khosrowshahi said that it would push strongly to enact similar legislation elsewhere. Given that Massachusetts passed a similar law to the one in California that originally reclassified “gig workers” as full-time employees, it stands to reason we could see a move for a change similar to Proposition 22 there in the future.