Tech

Lyft’s main taxi business is already profitable in some areas, but self-driving cars and bike-sharing are eating into that revenue

JPMorgan says Lyft’s core ride-hailing business is already profitable in certain markets. It’s other bets on things like bikes, scooters, and self-driving cars that are dragging down the company’s balance sheet. Other Wall Street analysts have also raised their estimates and targets for Lyft following second-quarter earnings that topped expectations. […]
Lyft’s main taxi business is already profitable in some areas, but self-driving cars and bike-sharing are eating into that revenue
News

Lyft’s electric Citi Bikes in New York will be offline until the fall

Lyft pulled 1,000 electric bikes from its Citi Bikes fleet in New York in March after some users were injured by a brake malfunction. Those pedal assist models won’t be returning until at least September, the company confirmed Tuesday. A Lyft spokesperson declined to give a timeline for other cities […]
Lyft’s electric Citi Bikes in New York will be offline until the fall