[ad_1]
Receive the DealBook newsletter make sense of corporate and political headlines – and the powerful brokers who shape them.
__________
Uber and Lyft competed for riders and drivers across North America. They rushed to go in public. They even filed documents for their initial public offerings with the Securities and Exchange Commission the same day at the end of last year.
Now that Lyft is listed and Uber's initial public offering is coming up, it will also compete to attract equity investors.
[Uberperd18milliarddedollarsparansa[Uberislosing8billionayearits[Uberperd18milliarddedollarsparansa[Uberislosing8billionayearitsI.P.O. deposit reveals.]
According to most measures, Uber is much larger and generates more diversified income.
It is the largest carpool company in the world, with operations in 63 countries. Its revenue is not only from ridesharing but from Uber Eats, its food distribution business, as well as its trucking and sharing of bicycles and scooters. In comparison, Lyft operates in the United States and Canada and derives almost all of its revenue from its mobile service.
Lyft, however, seems to grow faster.
Here are four tables, based on the documents filed by the companies, which show how the two companies are.
Reservations
Reservations are the revenue generated by the rides. Lyft excludes taxes, tolls and gratuities, while Uber excludes tips. Uber bookings include fees charged for its food delivery service and other activities.
It is therefore not surprising that Lyft's bookings are significantly lower than Uber's, but are increasing faster.
Lyft bookings exceeded $ 8 billion in 2018, up 76% from the previous year. Uber increased its bookings to $ 50 billion last year, up 45% from 2017.
Returned
At Lyft and Uber, revenue is the share of bookings paid to businesses – or, essentially, bookings less the amount paid to drivers.
Both companies' revenues increased rapidly in 2018, but faster at Lyft.
Last year, Lyft's revenue more than doubled from the previous year, reaching $ 2.16 billion. It was still a lot less than what his rival had generated last year. Uber's income reached $ 11.3 billion, an increase of 43%.
Perhaps worrying for potential investors, Uber's revenue growth slowed with last year's progress. In the third and fourth quarters, Uber revenues increased by 38% and 25% over the previous year. Lyft's revenues for these quarters increased by 93% and 94%.
Gains (losses)
Both companies accumulate big losses. In this case, Lyft's faster pace is not a good thing.
Lyft reported a loss of $ 911 million last year, up from $ 688 million in 2017. Uber lost $ 1.8 billion last year, excluding certain items non-recurring, but this loss was better than a loss of $ 4 billion in 2017.
The doorman business is inherently expensive. Lyft and Uber spend a lot on recruiting riders and attracting riders. They also invest heavily in new activities such as driving independently and sharing bikes.
Lyft may be growing its revenues faster than Uber, but it is also increasing its spending quickly to catch up with its competitor.
Lyft's total costs and expenses were $ 3.1 billion in 2018, up 77% from $ 1.8 billion in 2017. Uber's total amount was $ 14 billion. last year, an increase of 19% over 2017.
[ad_2]
Source link