Nearly two years into the pandemic, Uber and Lyft still looking for a consistent lane

Uber Technologies Inc. UBER, +1.32% and Lyft Inc. LYFT, +3.77% are scheduled to release fourth-quarter results next week that should show how the companies are dealing with a continuously changing ride-hailing environment. Lyft will report Tuesday afternoon, and Uber follows on Wednesday.

Uber will also be affected by the changing status of food delivery, with growth appearing to slow there, at least according to some analyst data. Uber’s Eats division helped the company when demand for rides plummeted because of lockdowns and has grown into a business whose revenue has exceeded that of its rides business, so analysts will be watching what Uber says about how slowing delivery growth may affect the company’s bottom line.

Stock movement: Uber stock has fallen after reporting earnings in two of the past four quarters, and five of the 11 reports it has made since going public. Uber shares are down 4.7% so far this year through Friday’s session, while the S&P 500 index SPX, -0.37% has lost 5.2%. Stock movement: Lyft stock has fallen after reporting earnings in two of the past four quarters, and six of the 11 reports it has made since going public. Lyft shares have fallen 4.9% so far this year through Friday.

Raymond James analysts said they expect “solid overall bookings for Uber in part due to acquisitions over the last year and expect [mid- to high-] teens growth in 2022.” They said they saw slower sequential growth in bookings for Lyft in the fourth quarter.

Source: News Formal (newsformal.com)

Join SoFi Money & get a $25 bonus. 💸💸💵 .com/invite/money?gcp=39608a59-e08b-4267-b23c-bf3d7649699b

United States Latest News, United States Headlines

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

Here are Monday's biggest analyst calls of the day: Apple, Uber, Clorox, Chipotle, Walmart & moreHere are the biggest calls on Wall Street on Monday. Let us know this is not free content
Source: CNBC - 🏆 12. / 72 Read more »

Anchorage’s international airport set another cargo record in 2021While last year’s passenger numbers didn’t fully rebound to what they were pre-pandemic, Ted Stevens Anchorage International Airport still reported a significant comeback in 2021. The airport also continued to experience booming air cargo growth.
Source: adndotcom - 🏆 293. / 63 Read more »

Mask Up: The Best N95 & KN95 Masks to Buy OnlineAfter two years into the pandemic we’re still masked up. Here are the best options to buy online. Don’t buy them!! Wash your hands more stay away from sick people! Stop going to work sick! Use common sense people….nobody should have to live their life masked the world is a better place with smiles!!!! Unfollowing. You’re a music magazine. Stick to music content. This is actually really disappointing to see from you.
Source: billboard - 🏆 112. / 63 Read more »

Group of moms gathers to scream out stress and exhaustionThey gathered last week for a collective “mom scream” after two years of stress and exhaustion from the pandemic. I'm just here to laugh at the maga man splain'in that will ensue....
Source: cleveland19news - 🏆 70. / 68 Read more »

Two Years Into Pandemic, Shoppers Are Still Hoarding“If I see pancake mix, I buy four boxes to just make sure I have them.” Shoppers are continuing their bulk-buying habit amid uncertain supply, higher inflation and more meals at home. Thanks Biden and liberal voters. This is exactly what the problem is. Many in general public do not understand that uncertain supply and inflation are caused by same actions they are taking by buying bulk and more then they need. Both issues can be resolved if they only buy what they need What you don’t understand is that people buy in bulk because most of the time the item they seek isn’t on the shelf, so when it is, they buy double. Since they didn’t have the option last time, they make sure they have it for next time. It’s simple human nature.
Source: WSJ - 🏆 98. / 63 Read more »

NPR Cookie Consent and ChoicesThank God someone finally bothered to crack open a Jr High science textbook! If more people in power helped their kids with homework, this pandemic would probably have gone a lot differently.
Source: NPRHealth - 🏆 144. / 63 Read more »