What's Going On With Uber Stock Thursday

  • Uber Technologies, Inc UBER shares are trading lower today in sympathy with Lyft, Inc LYFT, which will release its first-quarter results on Thursday after market close.
  • Lyft sees first-quarter revenue of approximately $975 million versus estimates of $1.09 billion. Analysts expect a Q1 revenue of $981.4 million and an EPS loss of $(0.06).
  • Also Read: Uber Exits Russia, Yandex Procures Uber's Remaining Stake In JV For Hefty Sum
  • Lyft struggled to gain market share versus Uber, which acquired market share and drivers during the pandemic
  • Lyft also chose not to diversify beyond transportation and geography, unlike Uber.
  • Lyft was slower to roll out bonuses and new features to entice drivers during a yearslong labor shortage on pandemic recovery.
  • Price Actions: UBER shares traded lower by 1.48% at $37.29 on the last check Thursday. LYFT shares traded lower by 3.77% at $10.48.
  • Photo by Gerd Altmann from Pixabay
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