This article is an on-site version of the #techFT newsletter.sign up here Send the full newsletter directly to your inbox each week
Lyft has just won the profitability race ahead of its ride-haling rival Uber, but there are signs of hope that the latter isn’t too late.
Tuesday, Lyft Report first adjusted profit — Modest $ 23.8 million — We expect to exceed our target by a quarter and remain profitable in the future. The benefit was that the Covid-19 restrictions were relaxed as the riders returned to the service, but they had to spend more to attract the drivers.
Lyft is a one-dimensional company compared to Uber, serving the US market and focusing on taxi services. Rivals, on the other hand, are international and are also committed to delivering food and groceries.
on Wednesday, Uber was short enough Wall Street recorded $ 509 million, so we estimate the adjusted loss to be $ 325 million, but we repeated our goal of recording a quarterly profit by the end of the year. The incentive to seduce the driver was blamed for the poor results. Uber chief Dara Khosrowshahi…