Uber to Wall Street: We're not Lyft

:Uber Technologies Inc on Wednesday said it had no need to boost incentives further to lure more drivers and forecast a strong second quarter, a day after rival Lyft said it needed to spend more for labor in the coming months.

Uber reported a dip in monthly active users in the first three months of the year from the previous quarter, a common trend in the industry during the colder winter months, but was keen to set itself apart from its smaller competitor. "There has been some relief among investors that for now Uber isn’t in quite the same vulnerable position of having to offer steep incentives to lure drivers back," Streeter said.

Uber's second-quarter adjusted EBITDA forecast of between $240 million and $270 million also topped the average analyst expectation for $237 million. However, on a net basis, Uber's first-quarter loss surged to $5.9 billion from $108 million a year ago, driven by $5.6 billion in drops in the value of stakes in other, poorly performing companies, primarily Chinese ride-hail company Didi Global Inc.

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Source: BusinessTimes - 🏆 15. / 51 Read more »

Joining Asean or not should not matter to Timor-Leste: Jakarta Post contributor
Source: STForeignDesk - 🏆 4. / 71 Read more »

Woman walks into glass wall at Putien restaurant, gets bruised but also free dishesIt happens to the best of us from time to time; a glass door or wall so clean and spotless that you walk right into it. A woman in Singapore recently found out how that felt at Putien restaurant in Raffles City when she walked right into a glass wall on the way to the...
Source: thenewpaper - 🏆 7. / 63 Read more »

Diner left with bloodied lip after walking into glass wall at Raffles City's Putien outletWhile leaving a restaurant to use the toilet, a diner at a Putien restaurant slammed head-first into a clearly well-cleaned glass wall, causing her lips to swell and bleed. The accident happened on May 1 at 3.45pm, at the outlet in Raffles City. The Putien restaurant chain specialises in dishes from the coastal town of Putian in southeast Fujian, China.... Another blur sotong, regardless of race, age or gender. PERIOD.
Source: asiaonecom - 🏆 10. / 59 Read more »