Uber introducing budget-friendly option for commuters
Ridesharing app Uber has introduced a new budget-friendly option for commuters.
Earlier this week, the company unveiled 'Route Share,' which allows users to share a ride with up to two other passengers along busy corridors for up to 50 percent less than the cost of UberX.
'Route Share offers consistent and frequent pickup options along direct routes during morning and evening commute hours (6-10 a.m. and 4-8 p.m. local time Monday through Friday),' the company said in a news release.
'With pickups every 20 minutes along busy corridors during weekday commute hours, you'll get the predictability and comfort of Uber, for even less (up to 50% cheaper than UberX),' the company wrote.
Uber said the program will initially be available in large cities, including New York City, San Francisco, Chicago, Philadelphia, Dallas, Boston, and Baltimore.
More cities are expected to be added in the future.
The company has not announced a start date for the program.
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What was once solely a ride-hailing service has evolved into both a mobility and delivery behemoth. In Q4 2019, prior to the COVID-19 pandemic, mobility gross bookings represented 75% of the company's total. In the latest quarter (Q1 2025), it was an almost even split between mobility and delivery. This kind of diversified model is hard to overstate, and it gives Uber an advantage. This shows up in the ability to leverage the same driver network, allowing these gig workers to earn more money. Uber has more data to work with, which can support various marketing and promotional activities. And it can be a holistic solution for consumers who don't want to navigate multiple apps. What's more, Uber brings in more than one revenue stream. In the first quarter of 2025, it registered $6.5 billion in revenue from mobility and $3.8 billion from delivery. There is a freight segment as well, which is tiny by comparison. What was probably once unimaginable to the critics is now a reality. And that is the fact that Uber is extremely profitable these days. It's a scaled platform that is boosting bottom-line performance. Uber posted $1.2 billion in operating income in Q1. That figure is a drastic improvement from a $1.3 billion operating loss in the first quarter of 2020. A fresh focus on creating a more efficient organization is clearly working. The management team expects adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to grow about 37% to 40% between 2024 and 2027. Uber continues to operate from a position of strength thanks to its tremendous network effect. It counted 170 million monthly active users in Q1. There are more than 7 million drivers. And last year, Uber surpassed 1 million merchants. With more users, drivers, and merchants, the entire platform constantly becomes more valuable to all stakeholders. Uber's competitive position is also supported by its powerful brand presence. 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As mentioned, there are many reasons to like this business. And there remains a sizable growth opportunity. For instance, CEO Dara Khosrowshahi says that AV technology alone presents a $1 trillion opportunity just in the U.S. Additionally, Uber is trying to sign up more teenagers, increase rider frequency, and expand use cases. There appears to be substantial upside for prospective investors over the long term. This means it's not too late to buy Uber stock. Before you buy stock in Uber Technologies, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Uber Technologies wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. 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