Lyft (NASDAQ: LYFT) was featured in a recent analysis report discussing ride services ahead of Lyft’s recently released financial results for its second fiscal quarter ended June 30, 2020. The report, written by LikeFolio Founder Andy Swan, reads, “Uber shares fell last week after reporting a steep drop in gross ride bookings: -73% YoY. As ridership declined, Uber was buoyed by food delivery: +113% YoY. Lyft does not have this platform diversity. Heading into earnings, LikeFolio data confirms an extreme drop in consumer demand for Lyft services. Lyft Purchase Intent in 20Q2 was down -71% YoY…And 20Q3 isn’t exhibiting a miraculous recovery.”
About Lyft
Lyft was founded in 2012 and is one of the largest transportation networks in the United States and Canada. As the world shifts away from car ownership to transportation-as-a-service, Lyft is at the forefront of this massive societal change. The company’s transportation network brings together rideshare, bikes, scooters, car rentals and transit all in one app. Lyft is singularly driven by its mission: to improve people’s lives with the world’s best transportation. For more information, visit the company’s website at www.Lyft.com.
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