Lyft and Uber may be in the early stages of a price war, and investors in money-losing Lyft especially need to be prepared.
Lyft Inc. and Uber Technologies Inc. may be in the early stages of a price war, and investors in money-losing Lyft especially need to be prepared.
Lyft’s... Lyft Inc. and Uber Technologies Inc. may be in the early stages of a price war, and investors in money-losing Lyft especially need to be prepared. Lyft’s new chief executive, David Risher, told analysts on Tuesday’s earnings call that the company is focused on differentiating itself. One of those ways could be by getting rid of surge pricing, or higher prices during primetime usage.
Whether the trend is good enough for Wall Street remains to be seen, however. Lyft shares were down more than 6% in choppy after-hours trading Tuesday following the latest report, which contained results that were pretty much in line with Wall Street’s expectations, as summer travel and rides to the office helped increase demand.
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Lyft shares fall as fears of price war with Uber overshadow strong forecastLyft's shares dropped nearly 8% in extended trading as the company signaled its intention to compete with Uber through aggressive pricing, despite a strong earnings forecast. Lyft's new CEO, David Risher, has implemented cost-cutting measures and reduced ride fares in an attempt to close the gap with Uber in the North American ride-share market. However, this strategy resulted in a 5% decrease in revenue per active user.
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Lyft earnings: What to expect from Uber's smaller rivalAfter 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.
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Study Finds Third-Party Representation Helps Reactivated Deactivated Uber and Lyft DriversA new study reveals that when gig workers are deactivated, third-party representation plays a crucial role in helping them regain their ability to earn. This finding highlights the importance of external intervention for 'digitally fired' ride-hailing drivers.
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Study Finds Third-Party Representation Helps Reactivate Deactivated Uber and Lyft DriversIt helps to have someone on your side -- when deactivated Uber and Lyft drivers had representation, the median time they spent out of work was reduced from about 11 weeks to less than six weeks, research has found.
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Lyft driver assists police in apprehending armed robbery suspect at Publix PharmacyA Lyft driver in Neptune Beach played a crucial role in helping the police arrest an armed robbery suspect at the Publix Pharmacy. The suspect, Russell E. Gnann, threatened the pharmacy staff with a fake handgun and managed to steal a significant amount of Xanax prescription pills. However, thanks to the assistance of the Lyft driver, Gnann was apprehended and now faces charges of armed robbery, aggravated assault, and possession of a controlled substance.
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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.
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