Uber exceeds expectations in first quarter

Thanks to its push into same-day delivery, Uber has beaten forecasts in its first quarter earnings call.

Delivery gross bookings hit $12.5 billion as against the projected $10.7 billion, even while ride gross bookings sat at $6.8 billion (while still beating projections by $0.2bn)

“Uber is starting to fire on all cylinders, as more consumers are riding with us again while continuing to use our expanding delivery offerings,” CEO Dara Khosrowshahi said in a statement. “We will continue to innovate and find new ways to deepen engagement with our customers, as the only global platform that helps you go wherever you need and get whatever you want.”

The pandemic hit Uber’s ride hailing business so it invested heavily in same-day delivery. Among other customers, Uber has taken on convenience store chain Gopuff, alcohol delivery service Drizly and this week, grocery store chain Walgreens.

As its delivery business flourishes, with pandemic restrictions easing Uber is set to see its overall revenues grow significantly in 2021.

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