Uber Technologies Inc reported a record $5.2 billion loss and revenue that fell short of Wall Street targets on Thursday as growth in its core ride-hailing business slowed, sending its shares down 6%. | Video
Aug 8 Uber Technologies Inc reported
lower-than-expected revenue for the second quarter on Thursday,
but followed ride-hailing rival Lyft Inc in saying that
the pricing pressure is easing.
A quarter of Lyft Inc customers who use its bikes and scooters are new to the company, executives said on Wednesday, outlining how investments in the expensive growth area may eventually benefit the core ride-hailing business.
Lyft Inc on Wednesday said a price war with rival Uber was easing, boosting shares of both companies and allowing Lyft to raise its outlook for the year and forecast a faster path to profitability.
Aug 7 Lyft Inc posted a robust jump in
revenue on Wednesday in its second-quarter results, allowing the
ride-hailing company to lift its forecasts as more riders used
the service and price competition with rival Uber eased.
Walt Disney Co reported a steeper earnings decline than Wall Street expected on Tuesday as the company poured money into its ambitious plunge into streaming media and began folding in assets purchased from Twenty-First Century Fox. | Video
Viacom Inc and CBS Corp have worked out a management structure in which Viacom Chief Executive Officer Robert Bakish would lead the combined company if the two entities reach a deal to merge, sources familiar with the matter said.
GoPro Inc raised its 2019 revenue forecast on Thursday, as the action camera maker bets on new releases slated for later this year and helping shares reverse course to trade up 5%.