Lyft still has long road ahead to a recovery

The ride-hail company reported Tuesday that its revenue fell 44% compared to a year ago in the fourth quarter, to $570 million. Active riders fell 45% over the same period, to 12.5 million riders — a slight increase compared to the third quarter. Lyft (LYFT)’s fourth quarter earnings report gives a fuller picture of the ongoing negative impact of the pandemic on its business. The company said that, while the earlier part of the quarter benefited from some recovery, the latter part was “negatively affected by the surge in Covid-19 cases and the reintroduction of restrictive measures intended to curb the spread.” Lyft’s business plummeted to 8.7 million

→ Continue reading at CNN - Business News

More from author

Related posts

Advertisment

Latest posts

Mexico is the country with the most 'sugar daddies' according to the SeekingArrangement dating app

If you are interested in becoming a 'sugar baby', in Mexico there are about 183,302 'sugar daddies' available, reveal data from SeekingArrangement, the...

Frustrated With a Colleague? Expectations May Be Why.

April 16, 2021 6 min read Opinions expressed by Entrepreneur contributors are their own. I recently...

Squarespace files for a direct listing on the NYSE

Today Squarespace, a well-known software-and-hosting provider for SMB websites, released its S-1 filing. The company is pursuing a direct listing on the New York...