Uber, the world’s largest ride-hailing company, has reported its “strongest quarter ever”, confirming that drivers completed over 2.1 million trips in Q1 2021. According to their Q1 report, Uber delivered strong performance with bookings up 141% year-over-year and revenue up 49% year-over-year.
The company’s success is attributed to their drivers, who are the backbone of Uber’s success. A significant portion of the trips occurred during peak hours on weekdays and weekends, hinting at a strong recovery in travel demand. In addition, Uber reported that its Uber Eats business saw record performance, with bookings up 84% year-over-year and revenue up 35% year-over-year. The company’s performance goes to show that despite the ongoing pandemic, many individuals are willing to use ride-sharing services in order to travel safely.
In addition to the success of its rides and Uber Eats business, Uber also reported that it has continued to expand its driver base, with growth across all regions. To accommodate its growing driver base, Uber has provided new safety measures, such as contactless pickups, in order to reduce any contracting risks. Moreover, the company is looking to expand its services to new markets and cities and is planning to launch Uber for Business, a professional-grade products for customers, later in the year.
Uber’s success over the past quarter speaks for itself. At a time when many companies are struggling, Uber has managed to thrive and create opportunities for its driver base. The company has recognized the importance of safety measures and their role in creating a safe and enjoyable experience for its customers, which has helped them navigate the greater economic downturn. With continued growth and expansion across its various business lines, Uber looks to be a driving force in the tech industry for years to come.
