Uber's Speed Could Limit Lyft — Heard on the Street

Provided by
Dow Jones
By Laura Forman
The great ride-share recovery is no freeway.
Shares of ride-hailing companies fell Wednesday following Lyft's first-quarter report and went even lower after hours on Uber's earnings release that came 24 hours later. Uber said its full ride-share recovery in places like Australia and Hong Kong has been offset to some degree by continued weakness in places like India and Brazil, where Covid-19 case counts remain high. Meanwhile Lyft, which operates the majority of its business in the U.S., says its ride-share ride recovery peaked in March, at least temporarily, with volumes declining month over month in April as demand outstripped supply.

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