On the other hand, Uber CFO Nelson Chai commented, “Our Q1 2019 results were at or near the high end of the ranges we shared last month in our IPO prospectus. Our investments remain focused on global platform expansion and long-term product and technology differentiation, but we will not hesitate to invest to defend our market position globally. We maintained stable regional ride-sharing category position in the quarter and started to see signs of less aggressive pricing by some ride-sharing competitors, which has continued into Q2 2019.”
During the earning call with analysts, Khosrowshahi said he likes the direction of competition in the United States. He said, “I think that competing on brand and product is, call it, a healthier mode of competition than just throwing money at a challenge.”
He also expressed optimism that Uber Eats will achieve significant growth and the segment will eventually surpass ride sharing. “That would be an enormous win for us,” said Khosrowshahi.
