Uber Attains Net Profitability. Lyft Takes Steps to Secure Survival.
Uber’s milestone gains were driven by its cross-selling strategy. Lyft also garnered higher revenue and more active riders, mainly through competitive pricing. Both companies worked to capture more summer travel business. Uber is bolstering its membership program. Lyft is focusing on providing more services. This report covers Uber and Lyft’s 2Q financials and the strengths and weaknesses in each company’s growth strategy.
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