Uber sees signs of recovery, but trip requests still down 70% (Reuters)


Uber Technologies Inc. (NYSE: UBER) on Wednesday said trip requests were gradually picking up as several countries start to lift coronavirus-led restrictions, but still remained significantly below prior-year levels, Reuters reported.

Trip requests via the human cloud, ride-sharing platform are now down about 70% year over year, slightly lesser than April’s 80% drop, CEO Dara Khosrowshahi said in a conference with Bank of America analysts. He said the company’s rides business is improving on a week-over-week basis, and that the surge in food-delivery orders at Uber Eats recorded in the first quarter showed no signs of slowing in May.