Exhibit 99.1 Lyft Announces Results for First Quarter 2024 "Lyft is off to a strong start in 2024. We are executing well and bringing much-needed innovation to the market. That's why drivers and riders are choosing Lyft more often," said CEO David Risher. "After a year in the driver's seat at Lyft I'm thrilled to see all the ways that our customer obsession drives profitable growth." "We continue to see demand for our platform increase and our Q1 results reflect this: we delivered strong top-line growth and ...

It's only been a year since David Risher took charge of a company that was struggling to match rideshare giant Uber's dominance.  Risher told FOX Business that his biggest challenge in revitalizing the company and establishing it as a prominent player in the industry is "fighting inertia." "The inertia of staying home rather than getting out to connect with friends; the inertia of using the same old rideshare app instead of trying something new and better," Risher told FOX Business.  UBER, LYFT TO LEAVE MIN ...

LYFT Inc. (LYFT) is scheduled to report first-quarter 2024 results on May 7 after market close.The company has an impressive earnings surprise history, having surpassed Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 502.75%. The Zacks Consensus Estimate for LYFT’s soon-to-be reported quarter’s earnings has been unchanged in the past 60 days at 9 cents per share.Given this backdrop, let’s see how things have shaped up for Lyft this earnings season.We expect Lyft's perf ...

As market jitters are still upon us, investors may be looking for viable buy-the-dip prospects and among them, ride-sharing companies Lyft (LYFT)   and Uber Technologies (UBER)  may be considered. After all, Lyft and Uber’s stock have soared over the last year and are both up +20% in 2024.Let’s see if there could be more short-term upside in Lyft or Uber shares and if their stocks should be considered after a market correction.Image Source: Zacks Investment ResearchGrowth Trajectories Concentrating on its c ...

Uber and Lyft delayed plans to pull their businesses out of Minneapolis on May 1 after the city council pushed back an effective date to increase the minimum wage by two months.Minneapolis City Council unanimously passed the extension to July 1 for the increased minimum hourly wage during a Thursday meeting, according to CNN.The delay gives lawmakers time to hash out a compromise with Uber and Lyft, which said they were going to end operations in Minneapolis if the drivers’ wages were lifted to the equivale ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: A ride share car displays Lyft and Uber stickers on its front windshield in downtown Los Angeles, Jan. 12, 2016. The ride-hailing companies Uber and Lyft said they will delay their plans to stop operating in Minneapolis after city officials decided Wednesday, April 11, 2024, to delay an ordinance requiring increased pay rates fo ...

Given the growth of Uber's stock in recent months, investors who missed that opportunity might wonder if they have a second chance in Lyft's (LYFT -0.67%) stock. The fact that Lyft shares more than doubled in value over the last year could reinforce such a feeling.Still, Uber and Lyft are not always in the same businesses, nor do they serve all of the same markets. Such differences call into question whether Lyft will follow in Uber's footsteps or continue to underperform its main competitor. Let's venture ...

Uber and Lyft claim they will cease operating in the Minneapolis area in protest of a minimum pay ordinance that the city council voted to approve last week.The bill, to go into effect on 1 May, would establish a minimum pay of $1.40 per mile and $0.51 cents per minute for rideshare drivers, with a $5 per ride minimum. The city council voted to override the mayor’s veto of the ordinance, prompting Uber and Lyft to threaten to leave the region in response.Minneapolis would be the only city in the US without ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: In this Feb. 9, 2021 file photo, a passer-by walks past a sign offering directions to an Uber and Lyft ride pickup location at Logan International Airport, in Boston. Lyft and Uber are threatening to halt operations in Minneapolis because of a city ordinance to increase wages for app-based drivers, the latest back-and-forth that ...

Uber and Lyft will reportedly halt their operations in Minneapolis after the city council voted to require that drivers be paid a minimum wage of $15.57 per hour.The rideshare companies said they will stop operating there on May 1, Reuters reported Friday (March 15).Uber said it was “disappointed” in the city council’s decision and said the move will put 10,000 people out of work. Lyft said the law passed by the council is “deeply flawed,” according to the report.Online platforms may be shaken by wage hikes ...