Lyft (LYFT) Q1 Revenues Beat
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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 EDTUber (NYSE: UBER) Trades Higher in Sympathy with Lyft (NASDAQ: LYFT) Following Results, Lyft Up 14.8%, Uber Up 6.7%
... MoreLyft sees rider demand improve in late April, 'on path to profitability'
May 6, 2020 4:12 PM EDTBy 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
