Why is Uber clocking record bookings in March?

Ride-hailing app Uber Technologies has reported strong growth in gross bookings in March, with the mobility and delivery segments setting new records. The American technology firm has stated that its gross bookings in March reached the highest monthly level in the company’s nearly 12-year history, supported by the COVID-19 vaccination drive in the United States which prompted more people to get out of their homes.

Commenting on the United Kingdom business operations, Uber said that private-hire drivers using its mobility platform will be treated as workers as per change in employment law of the country.

As per the company, a major portion of the accrual, a charge for work which is yet invoiced, is projected to reduce reported first quarter total company and mobility revenues and revenue take rates.

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