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    HomeNewsOpinionLEX: Lyft — fare cuts bring little cheer for Uber peer

    LEX: Lyft — fare cuts bring little cheer for Uber peer

    Increase in riders comes at expense of revenue and profit for ride-hailing platform

    Financial Times
    ©The Financial Times Limited 2020 Aug 10, 2023 / 12:05 PM IST
    All Rights Reserved. FT and Financial Times are trademarks of the Financial Times Limited Not to be redistributed, copied or modified in any way.
    Lyft has no clear path to profitability. If it raises prices to its riders or increases charges on drivers, they will simply defect to Uber.
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