Uber and Uber Eats Report $402 Million Revenue in New Zealand

Uber and its food delivery service, Uber Eats, generated a combined revenue of $402 million in New Zealand during the year ending on December 31, 2024. The performance of these two segments diverged significantly, reflecting different market dynamics and operational strategies.

Uber Eats experienced a positive trajectory, with its net profit increasing from $1.7 million in the previous year to $2.4 million in 2024. This growth was supported by a revenue boost of 17%, rising from $255.3 million to $298.5 million. The food delivery sector has seen rising demand as more consumers opt for convenience in their dining options.

In contrast, Uber’s ride-hailing business faced challenges, with its net profit declining from $1.6 million to $1.1 million. Revenue for Uber’s ride-hailing services also saw a downturn, decreasing from $109.9 million to $104.8 million. This decline may reflect shifting economic conditions and increased competition in the transportation sector.

Despite the substantial revenues, the tax contributions from both entities have drawn scrutiny. Uber Eats reported an income tax of $539,682, a decrease from $609,597 in 2023. Similarly, the Uber ride-hailing service’s tax expense fell to $262,948, down from $609,507 in the previous year. These figures raise questions about the broader implications of tax policies on multinational companies operating in New Zealand.

The contrasting financial outcomes for Uber and Uber Eats illustrate the complexities of operating in diverse markets. As consumer preferences evolve, both companies may need to adapt their strategies to maintain and enhance profitability in an increasingly competitive environment.