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

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