) on Wednesday said higher-than-expected third-quarter revenues and an improved outlook showed it was well on its way to profitability by the end of 2021.
The loss-making company and its larger rival Uber Technologies Inc have historically relied on heavy subsidies to attract riders. But both companies are also spending to expand into other areas. Analysts welcomed the guidance. James Cordwell at Atlantic Equities said the Lyft news increases confidence that profitability for Uber’s ridesharing business is also “a very imminent prospect.”
CEO Green during Wednesday’s call repeatedly said his company remained focused on transportation alone.
Of course because they still charge passengers surge rates without the driver getting any of it and that’s how you become profitable by screwing over the drivers
Changing the pay structure to pay drivers even less probably added to that profitability
🤣🤣🤣
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