ride-hailing

Ride-hailing giant Lyft reported earnings for the second quarter after the bell Thursday.

The ride-hailing giant has struggled to turn a profit over the years, but that finally changed in 2021.

Estonia-based Bolt offers a platform similar to Uber’s, with a ride-hailing business and food and grocery delivery services.

Q3 2021 marked the first adjusted EBITDA-profitable quarter in Uber’s publicly traded history and the second in a row for Lyft.

After becoming adjusted EBITDA-profitable for the first time ever in Q2 2021, Lyft keeps it rolling with another solid quarter.

The proposed $1 trillion infrastructure package includes a provision that would study the potential for a “driving tax” of 8 cents per mile.

Self-driving technology company Aurora said it will deploy a Toyota Sienna autonomous vehicle in rideshare service in the next six months.

Didi, the largest ride-hailing company in China, is denying reports that it is considering taking the company private just one month after it debuted on the New York Stock Exchange.

On Sunday, China banned new downloads of Didi’s ride-hailing app, and on Tuesday, the stock dropped more than 23% in response.

Chinese ride-hailing giant Didi has filed paperwork with the SEC for an IPO on a major U.S. stock exchange.

Uber is reportedly close to a deal with GMB, a U.K.-based labor union, to provide representation for rideshare drivers as it works to comply with a recent U.K. Supreme Court decision saying drivers were entitled to minimum wage.

Lyft reported a narrower loss in its Q1 earnings as riders began returning to the platform.

Volatile rates per hour and supply demands impacted gig economy drivers in 2020, but a brighter outlook is ahead.

Law outlines penalties of up to $20,000 per day for noncompliance.

The departure raises questions about legacy auto companies aiming to compete with new entrants in the mobility sector.

Uber Freight sees loads more than double on a year-over-year basis, but the division’s losses increased as well. Investors will now likely mull over these results as the company’s stock lock-up expiration approaches.

But the ride-hailing company still posted a net loss of $463.5 million.

Uber’s second quarter as a public company saw a loss much worse than the consensus estimate. Revenue increased significantly at Uber Freight, so did the losses.

Lyft reported revenue well ahead of estimates and commented that continued improvement in market conditions, which may mean lower rider discounts and an easing competitive landscape, prompted the improvement in guidance.

The study leverages the treasure trove of data Uber and Lyft possess showing where and when people are traveling.

The program will help Lyft reel in more customers, as well as compete with arch-nemesis Uber as that company ramps up investments in tech transport services and prepares for its own public offering.

Transportation-as-a-service will have a huge 2019, and Lyft is kicking it off.

Ride hailing companies are expanding services across various verticals like electric vehicles and autonomous driving cars, as growth of regular users in the cab hailing market seems to stagnate.