Beautiful Virgin Islands

Friday, Aug 21, 2026

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

Beautiful Virgin Islands
0:00
0:00
Close
Twenty-Nine US States Take Meta to Trial Over Alleged Child Addiction on Instagram and Facebook
Former Scottish National Party Executive Peter Murrell Jailed for Five Years Over £400,000 Embezzlement
Moderna and Merck's Personalized Cancer Vaccine Succeeds in Historic Late-Stage Melanoma Trial
Prince Harry and Meghan to Move Back to Britain With Their Children
England and Wales Have Fewer Than 1,800 Prison Places Left for Men
Suspected People Smuggler Arrested After Investigation Identified Him
Children's Doctors Warn That Vaping Can Lead Young People to Smoking
Hundreds of Thousands of Students Receive GCSE and Vocational Results Across England, Wales and Northern Ireland
Here Is What Can Never Happen in Your Country: Taiwan Is Giving Money to All Its People Because It Collected Too Much Tax
UK Inflation Rises to 2.9% as Energy Bills Jump
UK Issues New Conduct Guide for Asylum Seekers on Consent and Respect
A Sleepless Night on Wall Street: Nasdaq to Begin Nearly Round-the-Clock Trading
"The First in the World": 69-Year-Old Protested Artificial Intelligence—and Went to Jail
Ukraine's Ousted Defence Minister Calls for Wartime Presidential Election
China’s Lifelike AI Humans Move From Livestreams Into Real-World Service Roles
Sarah Ferguson Reportedly Retreats to Late Ex-Boyfriend's Swiss Chalet
Cristiano Ronaldo and Georgina Rodríguez Sign Prenup Protecting Their Separate Fortunes
Thieves Steal Antonello da Messina Renaissance Masterpieces From Sicilian Museum
Better.com Founder Who Fired 900 Employees on Zoom Is Ousted as CEO
Italian Speed Camera Issues Nearly 32,000 Fines in 10 Weeks, Worth More Than €3 Million
AI Manager at San Francisco Store Recommends Firing Human Employee
Google Launches Pixel 11 With Gemini AI at the Center of Its Hardware Strategy
Reform UK Unveils Plan to Cut Welfare Spending by More Than £50 Billion a Year
Prime Minister Andy Burnham Praised Extinction Rebellion for Doing a 'Great Service'
UK Wildfire Phone Alert Triggers Backlash as Users Switch Off Emergency Warnings
Heathrow Roads Reopen After Burst Water Main Floods Access to Terminals 2 and 3
Former NBA Players Enes Kanter Freedom and Royce White Say They Will Enter 2027 WNBA Draft
Former Cambridge Professor Jason Arday Found Dead Days After Resigning Amid Plagiarism Row
US Appeals Court Rules AI Agent's Website Actions Are Legally Attributed to the User
France's Constitutional Council Blocks Social Media Ban for Children Under 15
Liechtenstein Changes Royal Succession Rules to Allow Women to Inherit the Throne
Women Allege Rape and Sexual Abuse at British Army College for Teenage Recruits
Minnesota: Two independent investigators posed as Muslims (one wearing a burqa) and showed how they could vote in elections without identification.
China’s Kimi Launches AI-Focused Credit Card With Agricultural Bank of China and American Express
Former Labour Adviser Arrested on Suspicion of Spying for China Held Privileged Access as Top Party Donor
Turkish Parliament Passes Landmark Bill Granting Conditional Amnesty to Disarmed PKK Members
Donald Trump Warns FIFA Against Ousting Gianni Infantino Amid Revolt by Global Football Leaders
Jeff Bezos Joins Investor Group Closing In on $6 Billion Liverpool FC Stake
UK Councils to Receive Sweeping Planning Powers to Ban New Vape and Betting Shops
Russia’s A7 Builds a State-Linked Payments Network Beyond Western Sanctions
Hyper-Realistic Reborn Dolls Draw Collectors Seeking Comfort and Craft
Gen Z Cuts Back on Dating as a Night Out Nears $200
Patients Turn to Artificial Intelligence for Therapy as Psychiatrists Warn of Privacy and Clinical Risks
Couples Embrace ‘Sleep Divorce’ to Protect Rest and Reduce Tension
Meta Ordered to Pay $567 Million and Change Facebook and Instagram Safeguards for Children
Up to only 10 Months in Prison for Swedish Officer’s Murderer Sparks Anger
Success: Nvidia Turned Gaming Chips Into the Engine of the AI Boom
Jorge Messi, Lionel Messi’s Father and Longtime Agent, Dies at 68
AI’s Next Bottleneck Is Power, Not Just Nvidia Chips
Advertising trick: Pepsi’s Harrier Jet Commercial Led to a $700,000 Court Fight
×