The ride-hailing service providers, especially Uber and Lyft, have been expanding swiftly over the past five years. More prominently, Uber is currently acquiring the leading position at the global level. The multi-services provider comprising taxi services, food-delivery, and bicycle-sharing services following the similar trend used by Amazon to boom the e-commerce business.
Watching Uber’s continuously growing fame across the global market, its contender Lyft will publicize its first revenue report since its IPO. Market analysts polled by Bloomberg are anticipating that Lyft would notify regarding the adjustments over earnings loss of $17.12 per share.
Earnings period is diminishing and the ongoing week will follow the stagnant trend. Shareholders will be focusing on a few established businesses such as Marriot, Disney, Viacom, Papa John’s, Roku, and Anheuser-Busch InBev.
In the interim, the financial calendar remains moderate this week with the exemption of key CPI data to be announced by the end of this week. CPI data reveals the measure of the inflation rate, which will play an even more crucial role for key market contenders following the FOMC meeting held last week.
According to Bloomberg’s compiled data, analysts are anticipating 0.2% of hike in core CPI since the month of March and 2.1% from the previous year.
On a similar note, where both the ride-hailing companies are trying to grab the global market by entering the IPO phase, their drivers are scheduling strikes over the inappropriate working conditions and lower incomes.
In a note, drivers mentioned about their demands involving livable income, job security, and restricting the companies’ commission to at most 15–20% of the total fares.
Concerning this, Uber and Lyft investors are urging the companies to further slash drivers’ income, discontinue incentive schemes, and switch to Driverless Cars as soon as possible. In their S1 filings, Lyft and Uber mentioned that they are already paying their drivers too much.