Karen Londono, an Uber driver, drives her car down a central street in Bogota, Colombia, January 28, 2020. Picture taken January 28, 2020. REUTERS/Luisa Gonzalez - RC2ZQE9MK7SU
Having a diversified business helped Uber weather the pandemic better than smaller rival Lyft. The larger firm’s results on Wednesday fell below analyst expectations though Uber Eats, the business that delivers food, helped prop it up. Revenue in that business more than tripled in the quarter compared to the same quarter the previous year. Meanwhile on Tuesday, Lyft, which is mostly a taxi-like service, said revenue dropped 44% in the fourth quarter over the same period.
Source: News Formal (newsformal.com)
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