Higher-than-expected Q3 figures for Lyft
One of Uber's toughest competitors, Lyft, posted its Q3 2020
earnings, and the market was impressed.
In the past quarter, the California-based company reported
revenues that topped the consensus by coming in at $499.7 million. The market
was looking for $486.6 million. Last year's figures came in at $339 million. Lyft
reported an increase also in the number of active riders. From the previous 8.7
million reported, the number increased to 12.5 million.
Moreover, Lyft announced that it is discussing with various
retailers and restaurants to expand its delivery segment.
After the news hit the wire, Lyft stock price jumped 6%.
Sources: cnbc.com
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