Lyft Inc. stock plunged 26% on Tuesday after the ride hail company said it would have to spend more heavily to attract drivers and forecast operating earnings less than a quarter of Wall Street targets, reflecting the added costs.
Lyft Inc. said it would invest in the current quarter to ensure adequate driver supply and grow its ride-hailing platform, spooking investors as the spending weighs on operating profit.
Uber said it is restarting its ridesharing service in the Ukrainian capital of Kyiv on Thursday with the goal of supporting “a return to normality as quickly as possible.”
Uber and Lyft said they are suspending surge pricing near a Brooklyn neighborhood where a gunman opened fire on a subway Tuesday morning after New Yorkers voiced outrage about inflated fares on social media.
Uber told FOX Business it is considering taking further action to help the company’s drivers, who are feeling the pinch of higher gas prices and are reportedly contemplating quitting because of it.
The ride-share company's fuel surcharge takes effect this week and will last for at least the next 60 days, according to Lyft's announcement. The surcharge fees will go directly to the drivers.
Uber and Lyft drivers consider quitting over rising fuel costs.
Rideshare company Lyft has followed its competitor, Uber, in adding a fuel surcharge to customers due to soaring gas prices.
Uber’s ride-hailing service edged closer to returning to its pre-pandemic levels during the final three months of last year, but its prospects remain clouded by the future direction of the novel coronavirus that has plagued its business.
Lyft Inc. said revenue increased 70% in the fourth quarter, as longer trips and higher fares offset weaker-than-expected ridership numbers
Lyft and Delta Air Lines are making rides to the airport less stressful with in-app flight status updates that’ll be delivered to customers who have linked Delta SkyMiles accounts.
Lyft driver Lamont Liner thought he was picking up a regular fare in Chicago late last year. Instead, his passengers pulled out a pistol and stole his car and phone. He hasn’t returned to drive for the app since, even as ride-sharing companies have tried to tempt drivers with more money.
Lyft tallied 10 deaths and more than 4,100 reports of sexual assault – including hundreds of rapes — during rides on its ride-hailing app in a three-year period, company officials said.
Ride-hailing companies Uber and Lyft said Friday they will cover the legal fees of any driver who is sued under the new law prohibiting most abortions in Texas.
Ride-hailing giants Uber Inc. and Lyft Inc. were dealt a blow after a California judge ruled California’s Proposition 22, which classified drivers as independent contractors, was unconstitutional.
Inflation has driven up consumer prices across the board in major cities across the U.S., making receipts from 2019 and 2020 look a lot different than receipts in 2021.
Uber says it plans to appeal a California judge's ruling that struck down a state ballot measure that exempted app-based ride-hailing and delivery services from a state law requiring drivers to be classified as employees eligible for benefits and job protections.
Migrants crossing the border into one New Mexico town are sometimes instructed by smugglers to use popular ridesharing services Uber or Lyft once they cross into the U.S.
Uber Technologies Inc (UBER.N) is pushing back its back-to-office date to late October globally, and all employees in the United States will have to be fully vaccinated before returning to office, a spokesperson said on Thursday.
Ford and ride-share app Lyft are bringing autonomous vehicles to Lyft customers in Miami by the end of 2021.