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

📆 26/08/2019 23:56:00
📰 BusinessInsider

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JPMorgan analysts say Lyft's core ride-hailing unit is basically profitable. It's the other bets that are dragging down its balance sheet.

JPMorgan says Lyft's core ride-hailing business is already profitable in certain markets.

What's more, the company's central ride-hailing component could already be profitable in many busy cities, JPMorgan estimates. It's the other, more expensive bets like those on self-driving cars and bike and scooter rentals that are siphoning off the excess revenue. "We believe the biggest change in Lyft's business since the IPO five months ago is how quickly the US rideshare market has rationalized," JPMorgan said.

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Lyft's surviving cause they didn't manage to ostracize Muslims like another ride-sharing company did lol

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