Why the GIG Economy Could Alter How Restaurants Hire, Manage Their Workforce - Seite 4

A handful of transit agencies are paying Uber Technologies Inc and subsidizing rider costs during the pandemic to offer transportation at off-peak hours or in less busy areas.  Some give monthly bus-pass holders a limited number of Uber rides, others cover the entire cost for regular Uber rides to and from essential workplaces.

Lyft, Inc. (NASDAQ: LYFT) on Wednesday of this week surprised investors with higher-than-expected revenue and the ride-hailing company vowed further cost cuts to become profitable as the U.S. coronavirus lockdown batters the economy.  The first-quarter results offer a first look at the impact of strict stay-at-home orders to combat the spread of the virus in many of the ride-hailing industry's largest markets.

Lyft's earnings also serve as an indicator for the performance of larger rival Uber Technologies Inc , which will report results on Thursday.  The company did not say whether it stuck to its goal of being profitable on an adjusted basis by the end of 2021 but on Wednesday said cost cuts would help it on the "path to profitability."  Lyft on Wednesday said first-quarter revenue rose by 23% to $955.7 million from the previous year, well ahead of a $884.7 million estimate by Refinitiv.

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