Ride-hailing giant Uber says gross bookings reached a record $22 billion in the second quarter of 2021, as it looks to turn a profit by the end of the year.
The turnaround in the U.S.-based company's fortunes come after a dismal 2020 when its ride-hailing division collapsed under the weight of global lockdowns and travel restrictions for prolonged periods of the year.
Revenues across the business came in at $3.9 billion for the second quarter, up 95% year-over-year, with ride-hailing accounting for $1.6 billion and delivery bringing in almost $2 billion.
The company's biggest revenue increase was found in Asia Pacific, where it jumped 227% year-over-year in the second quarter to $709 million, with Europe up 159% to $929 million and North America up 76% to $1.9 billion.
Uber's losses went down $150 million to $509 million in Q2, with chief financial officer Nelson Chai forecasting Adjusted EBITDA profitability by Q4 2021.
The number of rides taken on the platform increased to 1.5 billion during Q1, up by 105% on the same three-month period of 2020 when lockdowns inhibited movement for huge numbers of passengers.
Speaking to analysts after the release of its financial earnings, CEO Dara Khosrowshahi says: "Our ambition is to help people go anywhere and get anything.
"Whether they first came to Uber via Rides, Eats or Freight, consumers, merchants and companies alike are increasingly getting used to doing more with Uber.
"During the pandemic, we've shown how each of our multiple business lines can provide a hedge against the others. But more exciting is how innovation in our product and brand is driving cross-pollination between our customer bases - in other words, our businesses do provide a hedge, but, more importantly, strength in one business can strengthen the others."