Uber scores record bookings thanks to Eats (but it's prepping for the post-delivery life)
![_"Your Uber and Udon has arrived" [E+ via GettyImages]_](https://cdn.robinhood.com/static_content/mwphzyq69oso/en-US/assets/files/2h4NKmECHJlV93Yb37BUko_1_GettyImages-1267747217.jpg)
Call an XL... for the big stacks. Uber's bookings reached an all-time high of $19.5B last quarter, up 24% from last year. But don't call it a ride-hailing company — it's a food delivery company now.
- Uber's "core" rides biz saw bookings plunge 38% last quarter.
- Uber's food delivery bookings more than doubled from a year earlier.
- Wild stat: Uber Eats now accounts for more than 60% of Uber's biz.
Pizza > People... If you thought your ride to Girls' Night got pricier, that's because it did. Uber and Lyft are dealing with driver shortages. Prices are rising as riders return, while some drivers still prefer delivering pizza over (potentially contagious) people. Now, both are offering drivers incentives to return as demand picks up.
- Uber is already prepping for the decline of the delivery life. Last week, it rolled out new features to further merge Eats with rides in-app.
- Uber + Udon: You can now pick up Uber Eats meals en route to your Uber destination (#inception). Or get Eats delivered by your home ETA.
The gig cloud still looms... Despite Uber's food delivery win, total sales fell because of new driver benefits in the UK, where it was forced to reclassify gig drivers. Aaand: it's still unprofitable. Last week, US Labor Secretary Walsh said he believes gig workers should be classified as employees in many cases. This week, the Biden admin said it's blocking a proposal that would make it easier for gig companies to continue classifying workers as independent contractors. Down the road, these stances could put the gig economy in danger (again).