The ride-hailing giant posted an operating profit for the first time in its history, thanks largely in part to its successful food delivery business.
Long known as a poster child for venture capitalism gone wild, with years upon years of losses buoyed only by massive investments, Uber has finally posted an operating profit, according to a Bloomberg article published in Crain’s New York. “Uber posted a second-quarter operating profit according to generally accepted accounting principles of $326 million and free-cash-flow of $1.14 billion.”
“After struggling with a driver shortage that caused fares and wait times to increase, Uber said the number of active drivers were up 33% in the second quarter compared with last year. The number of trips taken increased 26% from a year earlier to a record high.” Meanwhile, the company’s food delivery sector has shown strong growth.
Uber’s main competitor, Lyft—which now operates some of the country’s biggest bike share programs—isn’t doing as well: “Uber accounted for 74% of the US consumer ride-share sales at the end of June, while Lyft had 26%, according to Bloomberg Second Measure.”
FULL STORY: Uber posts first operating profit as ridership hits new record
Food Delivery Could Be the Secret to Uber's Success
While Uber's ride hailing services are famously unprofitable, food delivery is quickly gaining traction for the troubled transportation network company.
Hong Kong Cab Hailing App Folds — and Uber Takes Over
HKTaxi launched a year before Uber came to town. Now, it’s shutting down. Lawmakers worry a monopoly looms.
Uber and Lyft: A Tale of Two Companies
After years of resisting efforts by cities to regulate their business and constant—but unprofitable—growth, Uber and Lyft are homing in on their unique strengths.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
Delivering for America Plan Will Downgrade Mail Service in at Least 49.5 Percent of Zip Codes
Republican and Democrat lawmakers criticize the plan for its disproportionate negative impact on rural communities.
Test News Post 1
This is a summary
Test News Headline 46
Test for the image on the front page.
Balancing Bombs and Butterflies: How the National Guard Protects a Rare Species
The National Guard at Fort Indiantown Gap uses GIS technology and land management strategies to balance military training with conservation efforts, ensuring the survival of the rare eastern regal fritillary butterfly.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
EMC Planning Group, Inc.
Planetizen
Planetizen
Mpact (formerly Rail~Volution)
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research
NYU Wagner Graduate School of Public Service