Key Takeaways Lyft said Wednesday that it is planning to restructure its bike and scooter rental program, which could lead to a reduction of about 1% to the company's total headcount. The ridesharing company said the changes will result in a charge of about $34 million to $46 million, primarily for the third quarter. These changes could boost the company's financials by roughly $20 million in 2025. Last month, Lyft reported a profitable quarter for the first time in its history as a public company. Lyft (LY ...

In the summer of 2023, Lyft was contemplating the sale of its micromobility business after receiving strong interest from prospective buyers. Today, the ride-hail company is doubling down on its docked scooter and bikeshare operations, positioning itself as the ideal partner for cities looking to enhance their urban transportation networks. Since acquiring shared bike and station provider PBSC Urban Solutions two years ago, Lyft has invested in building and deploying better quality e-bikes and docked e-scoo ...

Rideshare operator Lyft Inc. NASDAQ: LYFT finally made good on its path to profitability, scoring its first-ever GAAP profitable quarter. Unfortunately, the good news was overshadowed by its soft forward guidance, which sent shares tumbling 17% following its second-quarter 2024 earnings release. ▼ Lyft Today LYFT Lyft $11.69 +0.02 (+0.17%) 52-Week Range $8.85 $20.82 Price Target $15.87 Add to Watchlist However, the market knows when it sees a bargain, and buyers sweep in quickly, driving shares back to wher ...

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Lyft expanded its offerings with earned wage access for drivers and a new service for pet owners. The earned wage access offering is one of several new features for the Lyft Direct debit card and banking app designed for drivers and powered by Payfare, the two companies said in a Tuesday (Aug. 27) press release. Other new features added to the platform include the ability for drivers to automatically add a portion of their earnings to their savings account, balance protection that allows drivers to access u ...

In an effort to improve its security measures, Lyft announced Tuesday a new rider verification pilot program to help drivers verify riders' identities and ensure that they are indeed who they say they are. Starting today, Lyft's new program is rolling out to nine markets, including Atlanta, Chicago, Denver, Detroit, Houston, Jacksonville, Miami, Phoenix, and Seattle. The company declined to say when it would be launching in more cities. Riders will now see a verification badge next to their profile, indicat ...

Lyft finally seems primed for a recovery. After years of underperformance, Lyft (LYFT 0.86%) stock may finally be ready for a comeback. The No. 2 ride-sharing company in the U.S. just posted its first-ever generally accepted accounting principles (GAAP) profit as a detente with rival Uber has benefited both companies. Lyft has improved its service and tapped into new revenue streams like advertising. Billionaire hedge fund managers seem to be taking notice. Two prominent ones -- David Tepper and Ken Griffin ...

Drivers on the Lyft platform now have access to a host of new features including Lyft Direct Savings, Balance Protection, enhanced cashback rewards, and more SAN FRANCISCO and TORONTO, Aug. 27, 2024 /PRNewswire/ - Lyft, Inc. (NASDAQ: LYFT), one of the largest transportation networks in North America, and Payfare Inc. (TSX: PAY) (OTCQX: PYFRF), a leading international Earned Wage Access ("EWA") company powering instant access to earnings and digital banking solutions for workforces, are launching new feature ...

This ride-sharing specialist could be poised for a turnaround. Lyft (LYFT 1.83%), the No. 2 ride-sharing operator behind Uber Technologies, has burned nearly every investor who has bought the stock. As you can see from the chart below, the stock is down sharply from its 2019 initial public offering (IPO). Lyft stock has fallen in three separate episodes. First, the stock crashed after a successful IPO as investors believed the money-losing company was overvalued in 2019. The following year, it fell along wi ...

Abstract Aerial Art/DigitalVision via Getty Images Lyft (NASDAQ:LYFT) stock sold off massive after reporting its Q2 2024 results and outlook, pulling back over 17%, in spite of achieving its first-ever quarter of GAAP profitability. I reiterate my buy rating on Lyft, as I think Lyft is now better positioned to outperform in the second half of FY2024, as we've gotten the negatives out of the way. The stock sold off after earnings as investors panicked due to 1) a slight miss on gross bookings, coming in at a ...