What's Up With Uber And Lyft Today?
Uber Technologies Inc (NYSE:UBER) shares are trading lower by 4.26% at $49 after the company reported first-quarter earnings results.
Uber reported quarterly losses of 6 cents per share, which beat the analyst consensus estimate of a loss of 54 cents per share. Uber also reported quarterly sales of $2.90 billion, which missed the analyst consensus estimate of $3.28 billion.
Shares of ride-sharing app peer Lyft Inc (NASDAQ:LYFT) are trading lower by 2.91% at $51.10 in sympathy with Uber’s earnings results.
Uber is a technology provider that matches riders with drivers, hungry people with restaurants and food delivery service providers, and shippers with carriers. The firm's on-demand technology platform could eventually be used for additional products and services, such as autonomous vehicles and delivery via drones.
See Also: How To Buy Uber Stock
Lyft is the second-largest ride-sharing service provider in the U.S., connecting riders and drivers over the Lyft app. Lyft offers a variety of rides via private vehicles, including traditional private, shared and luxury rides. Besides ride-share, Lyft also has also entered the bike- and scooter-share market to bring multimodal transportation options to users.
Related link: How to Invest in Lyft Stock
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