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Briefing
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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Around 180,000 people in the U.S. were paying for subscriptions to Twitter, including Twitter Blue, as of mid-January, or less than 0.2% of monthly active users, according to a document viewed by The Information. The tiny number signals the challenge Elon Musk faces in turning the subscription product into a major source of revenue. The U.S. number is about 62% of Twitter’s global...
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