JPMorgan analysts said Friday that they now expect the company's rebound from a virtual shutdown of its core ride-hailing business to be slower than expected.
"While we haven't seen a noticeable decline," they continue, "the resurgence of cases in France, Spain, and the UK poses a risk as governments employ partial lockdowns to control the pandemic's spread." Shares of Uber were up 2% in trading Friday following the restrained optimism from JPMorgan, which re-iterated its buy rating for the stock.Lyft, which only operates competing services in North America, is seeing its rides business bounce back at about the same cadence as Uber. But without a food-delivery business to bolster a 54% decline in rides in August compared to last year, JPMorgan projects it won't reach profitability until the end of 2021.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Still struggling with becoming A Profitable Forex trader? I can help you out,Make $3000 in just 3 days,No need to pay for Signals,Learn how to invest and generate income all by yourself.Become a successful forex trader today📊💰.DM for more info Markharrisfx
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside the last workshop making traditional Portuguese cowbells by hand - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inside recent sports media and gambling deals: expert analysis - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
A look inside the Grace Hopper Celebration for women in tech - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. If you want to take your website to the first page of Google , SEO backlinks that help increase traffic, increase website ranking contact now
Source: BusinessInsider - 🏆 729. / 51 Read more »
Look inside a 130-year-old church in Vermont transformed into a modern, 5-bedroom home - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
How the COVID-19 pandemic is impacting the English language - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »