Lyft beat the street on revenue in the fourth quarter, but it wasn’t enough to assuage investors who reacted to the ride-hailing company’s weak guidance for the first three months of 2023. Lyft lowered expectations for revenue in the first quarter to $975 million. Analysts had expected the company to promise $1.09 billion in revenue.… Continue reading Lyft shares get crushed on weak guidance for first quarter
Tag: Lyft
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Feb 9 (Reuters) – Lyft Inc (LYFT.O) on Thursday forecast current-quarter revenue below Wall Street estimates, blaming extremely cold weather in some of its major markets and lower prices, especially during peak hours, sending its shares down 23% in extended trading. The company’s outlook was in contrast to that of its larger rival Uber Technologies… Continue reading Untitled
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Feb 8 (Reuters) – Uber Technologies Inc (UBER.N) on Wednesday set its sights on delivering profits this year after rounding off 2022 with blow-out earnings as a surge in demand for airport and office rides helped the company rebound from pandemic lows. Uber’s shares surged nearly 8% in premarket trading after Chief Executive Dara Khosrowshahi… Continue reading Untitled
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Feb 7 (Reuters) – Uber Technologies Inc’s (UBER.N) revenue growth is set to outpace that of rival Lyft Inc (LYFT.O) as the rideshare firm’s presence in major markets around the world gives it the heft to deal with inflationary pressures. Ridesharing companies are starting to recover from pandemic lows as offices reopen and following a… Continue reading Untitled
Uber Drivers Say They Are Struggling: ‘This Is Not Sustainable’
But it has not been enough for Ishtiaq Ahmed, 42, who works for Uber and Lyft and lives with his wife and four children in Brooklyn. Mr. Ahmed said that, more than a decade ago, he used to earn $700 to $800 a day with the app services. Now, he is lucky to make $140.… Continue reading Uber Drivers Say They Are Struggling: ‘This Is Not Sustainable’
NYC to Require Uber, Lyft to Go 100% Electric by 2030
This New York City mandate could affect an estimated 100,000 for-hire vehicles. Photo: Canva New York City Mayor Eric Adams announced that Uber and Lyft will be required to have only zero-emission vehicles by 2030, according to a report by Verge. Adams made the announcement during his recent State of the City speech. As part of… Continue reading NYC to Require Uber, Lyft to Go 100% Electric by 2030
Lyft wants to reshape shared micromobility with dockable e-scooter
Lyft wants to see a more organized shared micromobility landscape, with fewer free-floating scooters and more dependable, docked vehicles. To help achieve this vision, the company revealed Thursday its next-generation dockable e-scooter and updated docking stations. While mainly a ride-hail operator, Lyft also provides docked bikeshare programs in eight cities across the U.S. Last year,… Continue reading Lyft wants to reshape shared micromobility with dockable e-scooter
NYC wants all Uber and Lyft cars to be electric by 2030
Drivers wouldn’t have to shoulder new costs, either. It might not be long before every ridesharing car in New York City is electric. Mayor Eric Adams has outlined an agenda that will require “high-volume for-hire” vehicles at Uber, Lyft and similar companies to be zero-emissions by 2030. There will be “no new costs” for drivers,… Continue reading NYC wants all Uber and Lyft cars to be electric by 2030
Thursday’s top tech news: another Cybertruck delay
Jan 26, 2023, 9:02 PM UTCUmar Shakir Ford is working with dealerships to enhance mobile service options for more customers — giving them access to free vehicle pickup and delivery as well as providing on-site repairs that competing companies like Tesla offer. Jan 26, 2023, 8:15 PM UTCAndrew J. Hawkins The proposed rule would likely… Continue reading Thursday’s top tech news: another Cybertruck delay
New York City will require Uber and Lyft to go 100 percent electric by 2030
/ The proposed rule would likely affect an estimated 100,000 vehicles that operate in the five boroughs. And Uber and Lyft have both set the goal of transitioning to an all-electric fleet by 2030. Image: Noam Galai/Getty Images for Uber Eats In his State of the City speech Thursday, New York City Mayor Eric Adams… Continue reading New York City will require Uber and Lyft to go 100 percent electric by 2030