Lyft has partnered with ADT while Uber laid off an additional 350 employees
has asked both companies to attend the hearing this Wednesday, and urged the firmsThe announcements are also seen against a backdrop of skepticism about the newly public companies’ finances, and particularly Uber, whose platforms and subsidiaries operate in more than 60 countries internationally, thanks to a long list of partners and investors.reported last month, both companies have yet to demonstrate a clear path toward profitability, and continue spending heavily as investors watch and wait.
Late this summer, “Lyft released ‘record second-quarter results’ while losing roughly the same amount of money as in previous years. Lyft’s improving loss guidance was meant to look attractive at $850 million to $875 million per year, compared with the $1.15 billion-$1.175 billion previously forecast ... [but] higher than in both 2016 and 2017,”Meanwhile, “Uber had an epic $5 billion quarterly loss, which is about $1.3 billion when adjusted for certain items,” Kindig noted.
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