trending Market Intelligence /marketintelligence/en/news-insights/trending/hj5F_GIwwtunf3bJIEQoNQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Lyft shares up 10% after CEO says company will be profitable in 2021

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform

Lyft shares up 10% after CEO says company will be profitable in 2021

Shares of Lyft Inc. were up more than 10% after its CEO said the ride-hailing company will be profitable on an adjusted EBITDA basis by the fourth quarter of 2021.

"We've never laid out our path to profitability, and we know that's a question on a lot of investors' minds," Lyft co-founder and CEO Logan Green said during an Oct. 22 fireside chat hosted by The Wall Street Journal. "We're going to be profitable on an adjusted EBITDA basis a year before analysts expect us to. We're going to hit this target in Q4 2021."

Green said there are three key factors to Lyft's profitability: driving profitable growth, high-value modes and product innovation.

This includes focusing on Lyft's business travel options for companies and Shared Saver, which offers riders lower-priced rides in exchange for longer wait times and walking a few blocks to the meeting point, Green said.

Co-founder and President John Zimmer said higher prices could be one way to help Lyft become profitable but that fewer discounts for riders can also translate into higher prices.

"We were doing more coupons a couple years ago than we do now," Zimmer said. "Yes, you could call that higher prices. We were discounting rides that people wouldn't have maybe taken otherwise. It was necessary to build up scale, but it's not necessary in today's world."

Lyft went public March 29 with an offering price of $72 and closed at $78.29 the day of its debut on the Nasdaq but has failed to hit that share price since. In August, Lyft reported an adjusted net loss of $197.3 million for the second quarter, which was narrower than expected, according to S&P Global Market Intelligence.

Shares of Lyft were up 10.37% at $45.12 during midday trading Oct. 22.