Illustration: Lazaro Gamio/Axios

Uber said on Thursday that it's withdrawing its forecasts for certain revenue and earnings metrics for the year, and it will write down between $1.9 billion and $2.2 billion from the value of equity investments. Its investments include ride-hailing companies Grab and Didi and food delivery company Zomato.

Why it matters: While Uber is seeing a surge in its food delivery business, demand for rides has dramatically dropped — by as much as 60–70% in Seattle at the peak of its outbreak — as people stay home to curb the virus spread.

  • Uber also says that its COVID-19 sick paid leave for drivers will reduce GAAP revenue by an estimated $17 million to $22 million in Q1, and an estimated $60 million to $80 million in Q2.
  • Food delivery company GrubHub also withdrew its guidance for 2020 this week, citing effects of the coronavirus pandemic and adding to the list of companies doing so.
  • Uber's share price went up more than 5% in after-hours trading.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 6:15 p.m. EST: 32,062,182 — Total deaths: 979,701 — Total recoveries: 22,057,268Map.
  2. U.S.: Total confirmed cases as of 6:15 p.m EST: 6,967,103 — Total deaths: 202,558 — Total recoveries: 2,670,256 — Total tests: 97,459,742Map.
  3. Health: Cases are surging again in 22 states — New York will conduct its own review of coronavirus vaccine.
  4. Business: America is closing out its strongest quarter of economic growth.
  5. Technology: 2020 tech solutions may be sapping our resolve to beat the pandemic.
  6. Sports: Here's what college basketball will look like this season.
  7. Science: During COVID-19 shutdown, a common sparrow changed its song.
2 hours ago - Podcasts

The child care tax on America's economy

Child care in the U.S. is in crisis, which makes it much harder for the American economy to recover — as providers struggle to stay in business and parents wrestle with work.

Axios Re:Cap digs into the problems and what can be done to solve them, with Vox senior reporter Anna North.

Viral load is a puzzle in COVID-19

Illustration: Eniola Odetunde/Axios

How sick a person gets from a virus can depend on how much of the pathogen that person was exposed to and how much virus is replicating in their body — questions that are still open for the novel coronavirus.

Why it matters: As people try to balance resuming parts of their daily lives with controlling their risk of COVID-19, understanding the role of viral load could help tailor public health measures and patient care.

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