While Lyft was the first to show glimpses of a profit since rideshare operations began, investors will now focus on adjusted core earnings outlook as the companies have set big targets for 2024 - $5 billion by Uber and $1 billion by Lyft.
Analysts expect a fourth-quarter revenue increase of 19% for Lyft and 47% for Uber, according to Refinitiv data.Analysts at UBS pointed to data that showed the time drivers spent on the Lyft app had decreased, while share of driver app downloads increased for Uber in the fourth quarter. Uber's food and delivery segment, which makes up for more than a third of its revenue, has so far been resilient in the weakening economy but it faces risks from a pullback in consumer spending.
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