Will Coronavirus Kill LYFT and Uber? — Market Mad House

Many investors are asking will Coronavirus Kill LYFT and Uber. We are asking that question because both Lyft (NASDAQ: LYFT) and Uber Technologies Inc. (NYSE: UBER) lose money.

However, both American rideshare giants have cheap stocks and huge numbers of riders. For example, Business of Apps there were 3.9 million Uber drivers who provided over 10 billion rides in 600 cities worldwide in 2018. In comparison, Lyft had 30 million riders and two million drivers in August 2019, Expanded Ramblings .

Yet both Uber and Lyft were cheap on 3 April 2020. For instance, Mr. Market paid $22.82 for Uber and $22 for Lyft on that day. Hence, many people will consider these ride share giants values.

Lyft Loses Money

Investors are skeptical of Lyft because it loses money. In fact, Lyft, reported a -$356.05 net loss, a -$46.19 negative operating income, a -$93.11 million negative investing cash flow, and a -$121.21 million negative ending cash flow for the last quarter of 2019.

However, Lyft reported $1.017 billion in quarterly revenues and a $514.21 million quarterly gross profit on 31 December 2019. Conversely, Lyft reported a -$381.81 operating loss on 31 December 2019.