Uber Is Expanding an Initiative That Will Save Riders Money — Here's Where It's Coming Next
The program, which paused in 2020, re-launched last summer.
By Amanda Breen •
Uber's shared-rides program, which hasn't been available in most cities since 2020, is back — and growing.
The company will expand its UberX Share program to five additional cities — Baltimore, Miami, Nashville, Philadelphia and Washington D.C. — "in the coming weeks," head of cities and transportation policy Shin-Pei Tsay announced on Uber's site.
Uber re-launched its ride-share initiative in New York City, Los Angeles, Chicago, San Francisco, Phoenix, San Diego, Portland, Indianapolis and Pittsburgh last summer, per Fox Business.
With UberX Share, riders can save up to 20% when matched with a rider along their route; the program's designed to add no more than eight minutes to a trip on average, per the company.
The news follows a strong first quarter for Uber. The company's adjusted earnings before interest, taxes, depreciation and amortization — one of its most closely tracked financial metrics — hit $761 million, exceeding expectations, The Wall Street Journal reported.
Lyft, which added $375 million to its insurance reserves in the first quarter, saw an adjusted EBITDA loss of $248.3 million and said that the figure minus insurance costs would have been $127 million, Barron's reported.
Under new CEO David Risher, who assumed the role last month, Lyft might once again eliminate its own shared-rides service in an effort to become more profitable, per TechCrunch.
Related: Report: Uber, Lyft Drivers Face Suspensions, Discrimination
Uber is up more than 30% year over year; Lyft is down more than 50% over the same period.
