Uber Eats showed substantial growth in 2019, generating over $536 million in the first quarter and an 89 percent jump year-over-year. The growing popularity of Uber Eats is a mixed blessing for the company, which ends up paying restaurants and drivers more than it earns from users. As for Uber's ridesharing business, growth was more modest. Adjusted net revenue for rideshare grew 10 percent from this time last year.

The rideshare company saw growth in all regions of the world except for Latin America, where it took a 13 percent hit in revenue from last quarter. Uber is in nine countries in the region, including Brazil, Peru, Mexico, Colombia, and Costa Rica. The company is facing fierce competition from Chinese-owned Didi in Mexico and locally-owned 99Taxis in Brazil, as well as a number of other regional apps.