After Uber reported strong earnings last week, all eyes will be on smaller rival Lyft when it posts results Tuesday afternoon. While Uber has engineered an impressive turnaround of its business that helped it notch GAAP profits in the latest quarter, Lyft hasn’t enjoyed the same benefits as its larger rival.
After Uber Technologies Inc. reported strong earnings last week, all eyes will be on smaller rival Lyft Inc.
While Uber UBER has engineered an impressive turnaround of its business that helped it notch GAAP profits in the latest quarter, Lyft LYFT hasn’t enjoyed the same benefits as its larger rival. Both are benefiting from a recovery in rides activity, but Uber is reaping the rewards of company-specific initiatives, such as synergies between its ride-hailing and food-delivery businesses, that aren’t afforded to Lyft.
Revenue: The FactSet consensus was for $1.02 billion in revenue, up from $991 million a year earlier. “The key question for LYFT remains on the company’s ability to ramp profitability,” wrote Evercore ISI analyst Mark Mahaney, who said he expects “additional color” on the bottom line in the quarters to come, after Lyft’s management withdrew earlier targets on the fourth-quarter call.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Up to 7 people wanted for carjacking Uber driver in Harlem, beating man in the BronxPolice are looking for up to seven people accused of carjacking an Uber driver in Harlem and then robbing a man at knifepoint in the Bronx.
Read more »
CEO pay climbed before layoffs at tech giants like Alphabet and Microsoft, data showsWhile some tech giants neared or imposed widespread layoffs last year, compensation for their CEOs climbed as much as tens of millions of dollars, according to an ABC News analysis of data released by research firm Equilar.
Read more »
Hate doing laundry? Poplin is like Uber for dirty clothesIf you struggle to get your laundry done every week, especially if you have several active children, Poplin may be the answer to your dirty laundry prayers.
Read more »
The first self-driving car fatality case put to rest who was responsible for killing a pedestrian. In this case, it was not the robot.Rafaela Vasquez, who was behind the wheel of a self-driving Uber that killed a pedestrian in 2018, pleaded guilty to endangerment on Friday.
Read more »
US trucking firm Yellow files for bankruptcy, to wind downThe nearly 100-year-old company's bankruptcy filing puts about 30,000 workers at risk when the freight industry is already grappling with slumping volumes. Its clients include large retailers such as Walmart and Home Depot, manufacturers and Uber Freight. Prior to its demise, Yellow, one of the largest U.S. trucking companies, held roughly 8% to 10% of market share, per brokerage TD Cowen.
Read more »
Planning firm Kimley-Horn opens new office in Dallas' Deep EllumKimley-Horn, an international planning and engineering firm, has leased a new office in the Epic development in Deep Ellum, Dallas. The 11th-floor office is being designed by DLR Group, which has also leased space in the Epic II tower. The tower was originally intended to house Uber's regional office, but the space is now being offered for sublease.
Read more »