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Coronavirus likely to hit Uber ride-hailing, boost food delivery: CEO – Source Reuters Tech News

FILE PHOTO: Uber CEO Dara Khosrowshahi speaks to the media at an event in New Delhi, India, October 22, 2019. REUTERS/Anushree Fadnavis/File Photo

(Reuters) – Uber Technologies Inc’s ride-hailing business will take a small hit due to the outbreak of the coronavirus, the company’s chief executive said on Wednesday, while its food delivery business will likely benefit from the epidemic.

“Certainly our rides business to the extent that people stop leaving their house will take a hit, while our business Eats will probably actually benefit,” Dara Khosrowshahi said at the Morgan Stanley 2020 Technology, Media & Telecom Conference in San Francisco.

He reiterated the company’s profitability target on an adjusted basis by the end of 2020.

Khosrowshahi said that given the diversity of Uber’s business and lack of dependence on supply chains, the company is well-positioned to handle the spread of the virus and should bounce back quickly.

“Our airport business has slowed down a…

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Source Reuters Tech News

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