U.S. market share, but not enough to prevent the bigger rival from reporting its second quarterly operating profit.The average price of a standard Lyft ride as of September-end was more than 4 per cent cheaper than Uber’s similar service, according to data analytics firm YipitData, a big change since February, when both the companies were charging nearly the same price.
“ has the potential to hurt Uber,” said Adam Ballantyne, senior analyst at Cambiar Investors that owns Uber shares. “If Uber wants to take more market share quicker from Lyft, it could lower prices. It would not surprise me to see the pricing impact the profit story near term.”
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: