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Uber, Lyft still sapped by COVID pandemic, plus 4 other takeaways this quarter – Source CNET Tech


Uber and Lyft see revenue drops and massive net loss. 

Angela Lang/CNET

Uber and Lyft have seen their rides businesses plummet over the last several months, largely because of the coronavirus pandemic. And based on the companies’ third-quarter earnings, it doesn’t look like that’s changing. But with Uber and Lyft maintaining an optimistic tone and promising profitability in the not-so-distant future, stock prices have shown only modest drops, ranging from decreases of 2% to 5%.

“It’s hard to believe that it’s been eight months since I first spoke with you about the coronavirus pandemic,”…

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Source CNET Tech

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