Lyft Inc said on Wednesday cost cuts put the company on track to reach its goal of becoming profitable on an adjusted basis by the end of 2021, ...
REUTERS: Lyft said on Wednesday cost cuts put the company on track to reach its goal of becoming profitable on an adjusted basis by the end of 2021, even as its second-quarter revenue tumbled 61 per cent due to coronavirus-related restrictions.
"We saw a rebound in demand in Q2 and have seen further evidence of this trend since the end of Q2. Rideshare rides in July were 78per cent greater than April," Chief Executive Officer Logan Green said. That region is the biggest market for both companies, but it also remains among the worst-hit by the health crisis, with business and travel at a standstill across the United States.
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