Lyft Looks to Ads to Boost Revenue
Ridesharing company Lyft is set to begin displaying advertisements in its app as a means of boosting its revenue. This comes after the company looks to realize its ambitious Q3 financial forecast following its stable second-quarter earnings report one day earlier.
Primarily a ridesharing service,...
Lyft Stock Narrowly Declines Following Q2 Earnings
Lyft shares declined slightly on Wednesday morning after initially rising on Tuesday following the release of the ridesharing company's earnings for the second quarter.
Shares in the company fell by approximately 7% after surging by 14% late on Tuesday. While analysts were impressed with the...
Lyft Lays Off 26% Of Workforce In Push To Cut Costs
Ridesharing company Lyft announced its decision to lay off 1,072 employees on Thursday, comprising 26% of its entire workforce. This move comes as the company looks to cut costs amid the challenging economic climate facing tech companies. In addition, the company is also set to...
Lyft to Launch Robotaxi Service in Los Angeles
Ride-hailing service Lyft announced on Thursday that it is partnering with driverless technology firm Motional to launch a robotaxi option for users based in Los Angeles.
Faced with tough regulatory scrutiny, no specific release date for this service has been announced. Delays to the...
Lyft’s Stock Up More Than 8% After Q2 Report Tops Estimates
The second quarter turned out to be about positives for the transport service platform Lyft. The company's reported Q2 earnings managed to top Wall Street estimates in a big way, sending Lyft stock 4.07% up on Thursday. The shares ended up growing a total...