– Advertisement – – Advertisement – Lyft President John Zimmer (L) and CEO Logan Green during an interview at an IPO event in Los Angeles March 29, 2019.Michael Luciano | CNBC Lyft shares soared by about 26% on Monday on positive news about a potential coronavirus vaccine from Pfizer and BioNTech, but lost about 4% of that gain before close on Tuesday.Lyft shares have also risen thanks to a ballot measure that passed in California authorizing transportation and delivery apps to keep treating drivers and delivery workers as independent contractors, not full-time employees. Companies including Lyft, Uber, DoorDash, Instacart and others spent $205 million to get their ballot measure, Prop 22, approved by voters.Lyft has not fared as well as its chief competitor Uber amid the pandemic in the United States. That’s because Lyft never built the food and grocery delivery business that has helped Uber replace revenue lost from decreased travel, commuting and recreation, with deliveries to people who were ordered to or opted to stay home. – Advertisement – Lyft shares rose slightly as the company reported third-quarter earnings after the bell on Tuesday, following a massive rally on Monday.Here’s how Lyft did versus comparable Wall Street expectations for the period ending September 30, 2020:Loss per share (adjusted): $1.46Revenue: $499.7 million, vs. $486.6 million expected per Refinitiv.Active riders: 12.5 millionRevenue per active rider: $39.94The company reported a net loss of $460 million for the quarter, nearly unchanged from the $463 million it lost a year ago. However, the company’s revenue and ridership increased significantly from last quarter’s results of $339 million and 8.7 million riders, suggesting a notable recovery in ride-sharing during the quarter, although both figures are still way down from a year ago.- Advertisement –
Press Association Diplomat got followers of Dermot Weld and Ruby Walsh off to the perfect start at Galway as the odds-on favourite recorded a comfortable success in the galwaybayhotel.com Novice Hurdle, the opening event of the 2013 festival. Weld, who is in search of a 27th trainers’ title at Galway, said the winner was likely to reappear on Tuesday, when he hoped the Dr Ronan Lambe-owned gelding would settle better. Weld, celebrating his 65th birthday, said: “He did it nicely. He was a little bit keener than Ruby would have wanted and as a result probably didn’t win as impressively as we expected. “I was a little concerned that he was going to tire at some stage. We’ll see how he is in the morning and hopefully we’ll run him back. The ground is beautiful and he’s a relatively fresh horse. “Hopefully we can get him to relax a bit better. He got geed up at the start when a horse bumped into him and it set him alight. “If we get him settled I believe he can come home a lot better than that. We had the right man on board today.” Sent off the 9-10 market leader, the four-year-old – who once beat current Champion Hurdle favourite Our Conor on the Flat – was produced with a double handful by Walsh on jumping the second-last. Sky Khan finished strongly on the run-in but Walsh had enough in hand to prevail by a relatively cosy length.