Connected_MobilityConnected Mobility

Connected Mobility

Uber, Lyft's Q3 Earnings Reflect Start of Recovery, MaaS Plan Momentum

Report Summary:

Both major U.S.-headquartered ride hail companies reported upticks in revenues, showing that their investments in incentives to spur driver returns largely paid off for Q3 2021. Uber had its first profitable quarter ever, and Lyft was profitable for the second quarter in a row. On the downside, fares remain high, and Uber was hit with a serious loss on its DiDi Chuxing investment.

Looking ahead, both companies expect to hang on to their high volumes of drivers and riders, and mobility-as-a-service efforts such as bikes, scooters, robotaxis and shuttles, figure into their plans.

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