Saudi Press

Saudi Arabia and the world
Tuesday, Jun 24, 2025

Uber attracts record number of drivers as cost of living bites

Uber attracts record number of drivers as cost of living bites

The number of people driving for Uber has hit an all time high, as concerns about the rising cost of living push people to find new ways to make money.
Almost 5 million people are now picking up passengers or making food deliveries for the company, 31% more than last year, boss Dara Khosrowshahi said.

Uber has been struggling with a driver shortage since the pandemic, leading to longer waiting times for customers.

High petrol prices also make it harder to earn money on the platform.

But Mr Khosrowshahi said interest in driving for the company was accelerating despite those costs.

"That's right: more people are earning on Uber today than before the pandemic," he said in prepared remarks for investors to discuss the firm's financial performance.

"Against the backdrop of elevated gas prices globally, this is a resounding endorsement of the value drivers continue to see in Uber."

Uber has been criticised for the treatment of its drivers.

In the UK, the Supreme Court ruled last year that the company must count them as workers. But in many countries, including key markets such as the US, Uber classifies drivers as self-employed contractors, meaning they are not entitled to benefits such as minimum wage or holiday pay.

Uber has said drivers value the flexibility to choose their own schedules. But it has also responded to concerns, for example introducing a fuel surcharge that customers pay to help offset driver costs.

It also recently unveiled other changes, including allowing drivers to see how much they will make before agreeing to take a ride, aimed at making their platform more appealing to drivers.

"Rather than relying solely on financial incentives, our goal has been to improve drivers' overall experience," Mr Khosrowshahi said.

Higher demand, which had plunged when the pandemic hit in 2020, is also helping to attract drivers back.

Uber said there were 1.87 billion trips on the platform in the April-June period - an average of roughly 21 million per day - up 24% from last year, and 12% more than were taken in 2019 before the pandemic hit.

The rise in demand helped push gross bookings up 33% to $29.1bn (£24bn)

Revenue more than doubled to $8.1bn, though some of that was due to a change to how the company accounts for its UK business.

Despite the gains, the company lost $2.6bn. It said more than half of that was due to a decline in the value of its stakes in overseas companies such as Zomato, Grab and Aurora.

Uber shares jumped more than 13% after the better than expected results. The numbers suggest a path for Uber to become profitable, despite inflationary pressures and lingering driver shortages in some cities, said Dan Ives, analyst at Wedbush Securities. "In a nutshell, despite rising ride share prices throughout the US/Europe clearly consumers are still moving to the Uber platform especially as travel, shifting to the office, and other post pandemic trends take hold globally with Uber poised to benefit into 2023," he said.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
Trump's Anti-War Stance Tested Amid Israel-Iran Conflict
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
Black Box Recovered from Air India Crash Site
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
Trump to Iran: Make a Deal — Sign or Die
Operation "Like a Lion": Israel Strikes Iran in Unprecedented Offensive
Israel Launches 'Operation Rising Lion' Targeting Iranian Nuclear and Military Sites
Israeli Forces Intercept Gaza-Bound Aid Vessel Carrying Greta Thunberg
IMF Warns of Severe Global Trade War Impacts on Emerging Markets
Syria to Reconnect to Global Economy After 14 Years of Isolation
Israel Confirms Arming Gaza Clan to Counter Hamas Influence
Global News Roundup: From Ukraine's strategic military strikes and Russia's demands and Tensions Escalate in Ukraine, to serious legal issues faced by Britons in Bali and Trump's media criticism, the latest developments highlight a turbulent landscape
U.S. Reduces Military Presence in Syria
Trump Demands Iran End All Uranium Enrichment in Nuclear Talks
Iran Warns Europe Against Politicizing UN Nuclear Report
×