- Uber Technologies Inc (NYSE: UBER) collaborated with Denver’s Regional Transportation District, Maryland’s Cecil County Transit, and Central California’s Porterville transit agency to offer routing and matching technology for their public transportation fleets, Reuters reports.
- The agencies will utilize Uber’s software to operate their transit or paratransit service under the arrangement.
- Passengers in the cities will be able to book transit or wheelchair-friendly rides via the Uber app. However, the transportation will be provided through the transit agencies’ drivers and vehicles for such rides.
- The arrangement offered higher margins for the company than the conventional services, based on the last year’s Uber official’s comment.
- Uber remained in active discussions with multiple other transit agencies. The company had previously announced software-based deals with two other transit agencies in Marin County, California, and Cape May County, New Jersey.
- The tech-based agreements enabled agencies to swap some fixed-line bus routes with on-demand trips in lower-populated areas or during relaxed hours.
- Uber acquired transit software provider Routematch last year to expand its transit agency customer base.
- The business diversification was ideally timed with the pandemic-induced hit at Uber’s core business.
- Uber recently acknowledged a vaccine-induced recovery in its core business with impressive March numbers.
- Price action: UBER shares traded lower by 0.10% at $60.58 on the last check Wednesday.
PNC Financial Services Gr Q1 EPS $3.29 Beats $2.75 Estimate, Sales $4.69B Miss $4.78B Estimate
PNC Financial Services Gr (NYSE:PNC) reported quarterly earnings of $3.29 per share which beat the analyst consensus estimate of $2.75 by 19.64 percent. This is a 19.76 percent decrease over earnings of $4.10 per share
