New Street analyst Pierre Ferragu thinks a merger between Lyft Inc and DoorDash Inc would drive a 30 percent upside to the combined company’s long-term EBITDA. Ferragu says combining the businesses would keep drivers busier, allowing them to make more money while also reducing the cost of finding new customers. The combination of food delivery and ride-sharing paid off for Uber…
Should Lyft and DoorDash Merge to Better Compete With Uber? Analyst Pierre Ferragu Thinks So
Uber Goes Aggressive in One of Its Leading Market Following Pandemic Recovery
Uber Technologies Inc. looks to add long-distance travel bookings to its U.K. app this year, including intercity trains, coaches, and flights, the Financial Times reports. Uber aims to expand its ride-booking app into a one-stop shop for travel that could eventually include hotels, including a “seamless door-to-door experience.” The U.K., one of Uber’s biggest markets outside…
Here’s Why Mizuho Views Uber As Top Pick
Mizuho analyst James Lee kept a Buy rating on Uber Technologies Inc with a $72 price target (100 percent upside). Lee reiterated Uber as a top pick in the U.S. Washington passed a new law that enabled gig drivers to remain as contractors while receiving benefits like injury protection and paid medical leave. The law compromised the state legislature, unions,…
Washington Governor Signs Uber, Lyft Driver Pay Guarantee Into Law
Washington Governor Jay Inslee on Thursday signed into law a minimum pay standard for Uber and Lyft drivers, making Washington the first U.S. state to implement earnings standards for ride-hail companies. Drivers across the Northwestern state will earn a minimum of $1.17 per mile and 34 cents per minute with a minimum pay of $3.00…
Amazon and Rideshare Drivers Call for Pay Raise Amid High Gas Prices
REDONDO BEACH, Calif.—Dozens of Amazon and rideshare drivers gathered in front of an Amazon warehouse and Uber Greenlight hub in Redondo Beach early in the morning of March 16 and called for higher compensation as gas prices soar. At the rally, the drivers formed a caravan on Redondo Beach Avenue with signs stuck to their…
Uber, Australia Post Add Fuel Surcharges in Response to Record Petrol Prices
Record-high fuel costs in Australia have forced Uber and Australia Post to impose fuel surcharges for their services, pushing up the cost of living for residents. Uber Australia announced on Friday that based on driver-partner feedback, a temporary fuel surcharge would be rolled out across Australia. “While earnings on our platform remain elevated compared to…
Lyft Joins Uber in Charging Customers Extra for Fuel Amid High Gas Prices
March 14, 2022
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Lyft Inc. on Monday joined Uber Inc. to levy fuel surcharge on rides from customers in an attempt to cushion the impact on drivers’ pockets from higher fuel costs. “Driver earnings overall remain elevated compared to last year, but given the rapid rise in gas prices we’ll be asking riders to pay a temporary fuel…
Uber Adds Fuel Surcharge in US, Canada Amid Spike in Gas Prices
Uber Technologies Inc. announced on Friday a temporary fuel surcharge will be added from March 16 on fares and deliveries in the United States and Canada in response to surging gas prices. “Many people are feeling the sting of record-high prices at the pump—and that’s certainly true of drivers and couriers,” the company said in a…
Why Uber Shares Are Trading Higher Today
Uber Technologies Inc. updated its guidance for the first quarter of Fiscal Year 2022. Uber now sees adjusted EBITDA of $130 million – $150 million (up from $100 million – $130 million). Uber sees a sequential improvement in both Mobility and Delivery segment Adjusted EBITDA (Q1 2022 over Q4 2021). Uber’s mobility demand improved significantly through…
Uber 2024 Profit Forecast Falls Short of Expectations, Shares Drop
Uber Technologies Inc laid out a $5 billion operating profit for 2024 that fell short of analyst estimates, sending its shares down 4 percent on Thursday, even as the ride-hailing company revealed several strategies to boost ridership and bring down costs. The forecast is below the $5.7 billion analysts expect for 2024, according to Refinitiv…
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