Holding didi 11% makes a lot of money! Didi’s listing helped Uber make a quarterly profit of $1.1 billion

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Novel coronavirus pneumonia, Uber, announced on Wednesday that the new car giant was recovering from the new crown pneumonia epidemic and the consequent shortage of drivers, Tencent Technology News reported on March 1, 2008. The company’s second quarter revenue increased 105% year-on-year to $3.9 billion, slightly higher than analysts’ expectations. Uber also recorded a rare profit of $1.1 billion, thanks to Didi’s initial public offering (IPO), in which Uber holds 11% of Didi.
Excluding this one-time gain, Uber said the adjusted loss was $509 million. Uber last recorded a profit in the first quarter of 2018, when the company sold some businesses in the face of fierce competition in overseas markets. Nelson Chai, chief financial officer of Uber, said in a statement that the company is still expected to achieve the adjusted profit target in the last three months of 2021.
With the proliferation of COVID-19 variants in the United States and elsewhere, Uber and other Internet companies are still facing enormous challenges. During the economic shutdown earlier, Uber eats, Uber’s takeout business, provided a lifeline for the company. At that time, customers no longer took the bus, but began to order more takeout.
This spring, passengers returned to Uber service faster than drivers, resulting in longer waiting time and higher fares. In order to attract drivers to return to the platform, Uber has increased incentives and bonuses. The company also said it had temporarily lowered the Commission to 18.7% from the usual about 20% to 25%.
Dara khosrowshahi, chief executive of Uber, said these measures had worked. “We have made great progress by investing in drivers to promote business recovery,” he said in a statement. From February to July, the number of active drivers and couriers in the United States increased by nearly 420000 every month. ” Uber also said that it attracted 101 million monthly active consumers.
LYFT, Uber’s largest competitor in the United States, said Tuesday local time that its revenue in the second quarter was $765 million, a year-on-year increase of 125%. The company reduced its loss from $437.1 million to $251.9 million, attracting 17 million active passengers, an increase of nearly 97% over the same period last year. LYFT attributed the growth to the business recovery and said it had achieved its goal of adjusted profitability( Tencent Technology (reviser / Jinlu)