Lyft earnings: First look at just how bad coronavirus impact has been - Business Insider

Ride-hailing has been hit hard by shelter-in-place orders around the world, and Lyft is no exception.

And while Lyft doesn't have a delivery arm as large as Uber's to make up for some of the ride-hailing losses, its limited global footprint of only North America could prove to be a positive in the long run. "It is now clear that the COVID-19 crisis is going to have broad-reaching implications for the economy, which impacts our business," CEO Logan Green said in a press release at the tine. "We have therefore made the difficult decision to reduce the size of our team. Our guiding principle for decision-making right now is to ensure we emerge from the crisis in the strongest possible position to achieve the company's mission.

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