Lyft Inc's hints that its cut-throat rivalry with U.S. ride-hailing rival U...
) is easing may prove bad news for customers but it sent shares in both companies sharply higher on Thursday.
Finance chief Brian Roberts said 2018 was likely the peak of losses for Lyft and said pricing had become “more rational”, meaning the company should spend less on the constant promotions and incentives it and Uber have used to win market share. “While Lyft continues to spend aggressively on various initiatives, competitive pressure on rider incentives for core ride-sharing continues to ease, which is a sign of a rational duopoly between Lyft and Uber for the moment,” PiperJaffray analysts said.
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