Lyft's results show pain but also hope as some riders return
NEW YORK - Lyft is still feeling the pandemic's severe impact on the ride-hailing industry.
But its third-quarter results show signs of a recovery from the previous three months when passengers stayed locked down.
The San Francisco-based ride-hailing company brought in $499.7 million in revenue in the three months that ended Sept. 30.
That was down 48% from the same time last year. CEO Logan Green said Lyft is encouraged by the ongoing recovery in ridesharing and the performance improvements in bikes and scooters.