Page 18 - David Risher News Today

Lyft’s strategy of slashing ride-hail fares to compete with Uber has resulted in slow and steady gains for the company, but competition remains fierce. 

Lyft, Inc. (NASDAQ: LYFT) shares are trading lower in Wednesday's after-hours session on the heels of the company's third-quarter earnings report. 

(Bloomberg) -- Lyft Inc. reported revenue and profit that beat analysts’ estimates in the third quarter, but introduced a new performance metric that compared it unfavorably to larger rival Uber Technologies Inc.Most Read from BloombergWall Street Divided Over Just How Aggressive Fed Cutting Will BeUBS Strategists See Far Deeper Fed Rate Cuts Than What Markets Are PricingIsrael Latest: Biden Says Gaza Hospital ‘Must Be Protected’China Weighs Ending Freeze on Boeing With 737 ...

An improved mix of airport rides, scheduled rides and priority pickups helped margin expansion, says Chief Financial Officer Erin Brewer

By Akash Sriram (Reuters) - Lyft forecast current-quarter core earnings above analysts' estimates and reported better-than-expected third-quarter reve...

(Reuters) -Lyft's price cuts may have helped the ride-hailing firm make a small dent in Uber's U.S. market share, but not enough to prevent the bigger rival from reporting its second quarterly operating profit. After the slowest sales increase in the second quarter in two years, Lyft is expected to post a bigger growth story in the September quarter as it attracted more riders with lower prices. The average price of a standard Lyft ride as of September-end was more than 4% cheaper th...

The average price of a standard Lyft ride as of September-end was more than 4% cheaper than Ubers similar service, according to data analytics firm YipitData, a big change since February, when both the companies were charging nearly the same price.

After the slowest sales increase in the second quarter in two years, Lyft is expected to post a bigger growth story in the September quarter as it attracted more riders with lower prices

LYFT Price Cuts Uber Deal: For Lyft, which under new boss David Risher has signaled a more aggressive pricing strategy, market share wins have been slow. Lyfts share has risen just 200 basis points to 29% since January, when the price war started, YipitData said.

Also, the UAW's deal with GM has over $2 billion in investments, and a parts issue means Ford is laying off 1,600 workers.