In a statement, Uber CEO Dara Khosrowshahi acknowledged that the company's overall rides were "hit hard by the ongoing pandemic," but he highlighted a surging demand for food delivery as stay-at-home orders keep people locked in their homes. He also said "early signs" of a rebound are already on the horizon as some markets begin to reopen. "Our global footprint and highly variable cost structure remain an important advantage, as our expectation is that the Rides recovery will vary by city and country," Khosrowshahi said. For now, investors appear somewhat placated. Uber shares were up more than 11% in after-hours trading.