Uber's recovery accelerates, but worries about losses linger

Uber’s ride-hailing service is regaining the momentum that it lost during the pandemic, but it’s coming at a cost that’s raising more doubts about the company’s ability to make money

SAN RAMON, Calif. -- Uber’s ride-hailing service is regaining the momentum that it lost during the pandemic, but it's coming at a cost that's raising more doubts about the company's ability to make money. At the same time, Uber's unprofitable delivery service is still growing at a torrid pace, indicating that some homebound habits may be here to stay, even though people are going out again. Those two trends produced Uber's best quarterly report since the pandemic clobbered the San Francisco company 17 months ago. The results announced Wednesday for the April-June period included a rare profit that investors glossed over to focus on ongoing losses in Uber's operations.