The post-corona figures published by Uber and Lyft show that Uber is doing a lot better than Lyft. Uber’s revenue from taxi rides tripled to $2.5 billion. The company did write red numbers below the line.
Uber’s total revenue is at 36 percent increased to 6.9 billion dollars, reports de Volkskrant. The delivery services contributed 2.5 billion dollars, just like the taxi services. Still, a loss of $5.9 billion was incurred. This amount includes a $5.6 billion setback on Uber’s investments, including its stake in the Chinese taxi service Didi.
The company’s share price nevertheless fell only a few percent . Uber CEO Data Khosrowshahi sees the growth in revenue as confirmation that the company is coming out of the corona crisis well. According to financial director Nelson Chai, the company has exceeded its own expectations. Now that the break-even level has been approached, he believes that good free cash flow can be realized this year.
Expectations exceeded Lyft’s price, on the other hand, fell by 36 percent. CEO Logan Green mainly emphasized in the presentation of the quarterly figures that the first quarter was better than expected and the volume of shared rides has reached a new corona record. Turnover was 36 million dollars. This is 36 percent more than a year earlier.
There remained below the line a loss of nearly 36 million dollars left. This is lower than a year earlier and the fourth quarter of 2021. Lyft has lost a lot of money in recruiting new drivers because the old ones left during the corona period. These people are desperately needed. Compared to a year earlier, there were 4.3 million new or returning customers compared to a year earlier.
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