You’re paying more, but workers might not be reaping the rewards. You’ve probably noticed a steep increase in the ridesharing fares you pay, but your drivers haven’t necessarily received the benefits. UCLA Labor Center researchers have published a study indicating that median Uber and Lyft fares increased by 50 percent between February 2019 and April… Continue reading Uber and Lyft driver pay isn’t keeping up with soaring fares, study says
Tag: Lyft
Uber and Lyft earnings diverge, a self-driving truck roadblock emerges and Redwood Materials lands a big one
The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive the full edition of the newsletter every weekend in your inbox. Subscribe for free. Welcome back to The Station, your central hub for all past, present and future means of moving people and packages from Point… Continue reading Uber and Lyft earnings diverge, a self-driving truck roadblock emerges and Redwood Materials lands a big one
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Feb 10 (Reuters) – Shares of Lyft (LYFT.O) fell more than 30% before the bell on Friday after forecasting first-quarter profit below estimates, amplifying worries that it was falling behind Uber (UBER.N) as the ride-hailing firms look to rebound from pandemic lows. Both the companies have been locked in a battle for market share coming… Continue reading Untitled
Lyft says lower prices to hit profit, shares drop 30%
Lyft forecast first-quarter revenue of about $975 million, below analyst estimates of $1.09 billion, according to Refinitiv data. Lyft Inc on Thursday forecast current-quarter profit far below Wall Street targets as the ride-hailing service lowered prices, triggering a 30% drop in shares on concerns it was falling behind bigger rival Uber. Lyft also forecast revenue… Continue reading Lyft says lower prices to hit profit, shares drop 30%
Lyft shares get crushed on weak guidance for first quarter
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
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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