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A flamboyant Lyft vehicle is an appropriate symbol of investors' most worrisome fears about hail driving. Lyft and Uber are asking investors to believe that they will stop one day igniting hundreds of millions of dollars, or even more, per quarter.
A key test for businesses comes next week in their quarterly financial reports. Stocks have not behaved particularly well since their IPO, and the question for investors is whether the two companies can demonstrate that their price war is in the process of being defused.
Lyft staff members learned this week that they were losing Jon McNeill, his operations manager. Meanwhile, Uber leaves 400 people in marketing.
In the email addressed to employees by Uber CEO Dara Khosrowshahi, about this decision, he wrote: "Today, it is generally accepted that, even though our growth has been rapid, we slowed down. "
Next week, investors will look in the financial projections of companies for clues as to whether the losses in billions of dollars that Lyft and Uber have suffered could translate into profits.
Both applications increased their prices towards the end of the second quarter. Analysts now expect Lyft to post a gross profit of $ 397.3 million (€ 358 million) in the third quarter, based on an average of Bloomberg's estimates.
Bloomberg
Bloomberg
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