Lyft (LYFT) Q1 Revenues Beat

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Go back to Lyft (LYFT) Q1 Revenues Beat

Uber (UBER) Trades Higher in Sympathy with Lyft (LYFT) Following Results, Lyft Up 14.8%, Uber Up 6.7%

May 6, 2020 5:36 PM EDT

Uber (NYSE: UBER) Trades Higher in Sympathy with Lyft (NASDAQ: LYFT) Following Results, Lyft Up 14.8%, Uber Up 6.7%

... More

Lyft sees rider demand improve in late April, 'on path to profitability'

May 6, 2020 4:12 PM EDT

By Akanksha Rana and Tina Bellon

(Reuters) - Lyft Inc (NASDAQ: LYFT) on Wednesday posted higher-than-expected revenue and the ride-hailing company vowed further cost cuts to become profitable, saying ridership hit by the coronavirus pandemic had improved in late April.

Shares in Lyft rose over 18% in after-hours trading, but shares are still less than half the $72 price from their initial public offering last year. Shares of larger rival Uber Technologies Inc (NYSE: UBER) were up 9%.

The first-quarter results offer a... More