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Lyft drivers with the promise of ‘profitable partnership’


Lyft predicted that drivers would set up food delivery programs and return to share as more and more passengers at the end of the closure, saying pilots missed the “contract and cooperation” that comes with carrying people instead of restaurants.

Recent results from the company – which, unlike its Uber counterpart, does not have its own food delivery program – showed that it continues to struggle to attract drivers.

John Zimmer, President of Lyft and co-founder, said the search for the passengers continued with the drivers who had been there since the end of October – a problem Uber faced, has announced a $ 250m “incentive” payment drivers last month.

But he said the end of the third phase of government jobs would also help tackle the problem, just as it could be a return to normal life from a continuous vaccination.

Zimmer said that as the need arises, rideshare represents a better union for workers than just providing food, adding that “Rideshare also provides a different perspective, and communication between people where there is no food supply.

“After a year of separation, the drivers told us that they wanted to talk to them. They need to be able to communicate and act responsibly when using Lyft, ”he said.

Lyft said buyers were willing to pay higher prices, eliminating the extra cost required to rehabilitate drivers.

The number of riders on the platform in the first half of 2021 increased by 8% in the last three months, although all available financial and operational resources were less than three-quarters of the total epidemic rate.

During January-March, Lyft recorded $ 609m, down 36% in the same period last year, but stronger than Wall Street estimates $ 558m, according to FactSet.

Lyft’s losses for the quarter were worse than expected at $ 427m against expectations of $ 320m, according to Capital IQ estimates, although the loss was more than $ 300m in one payment, Lyft said. It also included $ 180.7m in net fees related to their initial offer for 2019.

Ebitda’s exchange rate was $ 73m, a major change for $ 139m analysts was expected, and a very low loss for Ebitda since the company went public.

Beating the goal of the Ebitda profit-making company in the second half of this year depends on restoring the availability of drivers for riders.

The company said the disruption means raising prices in April for returning drivers, who receive an hourly wage of $ 30 per hour, before use, in 25 best markets.

Lyft share price rose by more than 5% in sales after hours.


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