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Uber/Lyft

Lyft Reports Sharp Drop in Revenue But Smaller Cash Burn

By Amir Efrati
· · Source: The Information

Lyft’s third quarter earnings results showed it put the worst of the pandemic behind it but also underscored why it’s bad to be a one-trick pony. The U.S. ride hailing company’s $170 million in cash burn in the quarter ending in September marked a significant improvement from the $770 million worth of cash it burned in the second quarter of the year. For the first three quarters of the year, Lyft...

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