Uber rides out a sales plunge as Eats bookings double (still no profit)

Please Purell the AUX cord... Uber's sales fell 29% last quarter because ride-sharing has a germy ring to it. Uber was operating under full corona-conomy lockdowns. Virus fears kept riders away, and the bars/restaurants you would normally Uber to were closed, anyway. But Uber's sales were still better than expected, because it's a tale of two businesses:

• Ride-share bookings plunged 73%, significantly worse than expected. Uber did 737M trips, less than half the 1.7B from the same quarter last year. But...
• Delivery bookings surged 113% on demand for Eats. Uber made more than double from Eats than it did from Rides. Food delivery was the perfect yin to ride-sharing's pandemic yang.

Hungry for acquisitions... Uber lost $1.8B last quarter, which sounds pretty bad — but it's better than the $5.2B it lost during Q2 of last year. Uber slashed costs by sadly laying off 14% of its workforce (~3.7K employees). It also transferred its uber-unprofitable Jump line of e-scooters/bikes to Lime, which it majorly invested in. But Uber has been on a shopping spree since July.

• Postmates: Uber acquired it for $2.6B to decrease competition in the heated food-delivery market.
• Routematch: Uber bought the public transit software company to connect you to public transport in-app.
• Autocab: Yesterday, Uber announced it's acquiring the UK-based taxi software company to connect you to rides where Uber doesn't operate.