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LYFT'S RESULTS SHOW PAIN BUT ALSO HOPE AS SOME RIDERS RETURN
AppleMagazine
|November 13, 2020
Lyft is still feeling the pandemic’s severe impact on the ride-hailing industry but its third-quarter results show signs of a recovery from the previous three months when passengers stayed locked down.
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But it was up 47% from revenue in the April-June quarter. And while the number of active riders plunged to 12.5 million in the latest quarter, down 44% from the same time last year, that figure was up 44% from the second quarter.
Lyft’s stock rose about 5.5% in after-hours trading following the release of the earnings report.
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