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Uber is still obtaining pummeled by COVID-19, as the raging pandemic continues to hoist the company's ride-hailing commerce down. Uber minded $1.1 billion over the last three months, with its adjusted net revenues downward 20 percent compared to the third season of 2019.

Gross bookings in its ride-hailing division, or the collated of money it takes in before propitious drivers, fell 50 percent year over year. It's grim position, but additionally a steady-going comeback over the second quarter, in which Uber's ride-hailing commerce was downward 73 percent year over year. Still there was no mistaking the impact of the coronavirus pandemic on the company's corporeity transportation business. Uber brought in $2.8 billion in adjusted revenue, an 18 percent degeneration year over year.

"it's question of when, not if, our propagation commerce will recover"

But the congregation sees a light at the end of the tunnel. "All early vestige we see makes it increasingly colorful that it's question of when, not if, our propagation commerce will recover," said Uber CEO Dara Khosrowshahi in a chirp with investors.

Delivery continues to be a effulgent atom for the company. Gross bookings in Uber Eats grew 135 percent year over year, thanks to increased demand for foodstuffs as well as grocery deliveries. Uber is increasing its swivel options as the coronavirus pandemic continues to haymaker its corporeity ride-hailing business. The congregation acquired Postmates for $2.65 billion, as well as recently launched an on-demand grocery swivel sketch in Latin America as well as Canada as partage of its conquering of Cornershop.

"It's my belonging that the tumefaction apprehension breech this swish are so teachable that we can continue to homilize infrequent growth," Khosrowshahi said.

It wasn't as grim a season as the first three months, in which Uber's net marring was $2.9 billion. Nor was it as bad as the second quarter. But it was a sign that widespread abeyance orders considering of the pandemic as well as the rise in the ordinal of COVID-19 cases in plenteous markets, prize-winning outstandingly the US, was standing to humiliate the company's finances.

The congregation did score a big win in California, where its Prop 22 eulogizing measure won by a large margin. Khosrowshahi discussed edifice on that achievement by advocating for similar measures at the national as well as global level.

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