# Any Lyft-ants happy over the news that their earnings went up 23%?



## jeanocelot (Sep 2, 2016)

https://finance.yahoo.com/news/lyft-q1-earnings-2020-193043573.html


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## Jon Stoppable (Dec 11, 2019)

Ants can be tasty if there's not much else to eat.


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## SWside (Oct 20, 2019)

Stock is up 15% after hours. What a missed opportunity. Never thought ridership would be up year-over-year.


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## Hamid6661 (May 6, 2020)

How's that even possible? Are we missing something?


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## AllenChicago (Nov 19, 2015)

jeanocelot said:


> https://finance.yahoo.com/news/lyft-q1-earnings-2020-193043573.html


Here is what drivers should be pissed off about. Excerpted from the article you linked to.

*"Active riders for the platform increased by just 3% year-over-year, from 20.5 million to 21.2 million, while revenue per active rider rose 19%."*

For those of you who have not been driving very long, Lyft keeps finding ways to keep more of each passenger's fare, along with implementing very small fare increases.

This is why every year since 2015 (in my experience), Lyft revenue increases per-rider, always go up double-digit, even though other sections of the company loses/wastes money. Those loses are compensated for, by reducing our personal revenue/income.


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## NoPool4Me (Apr 16, 2018)

Hamid6661 said:


> How's that even possible? Are we missing something?


Must be a lot more Uber drivers that suddenly quit driving and Lyft drivers picked up the slack. What else could it be? The next quarter should be different.


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## GregJinAZ (Feb 7, 2017)

The parasitic tumor has successfully grown


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## Lil'Lyftie (Feb 23, 2020)

I was able to see Lyft's take on a ride recently, because the pax required my help to work her app. Turns out, Lyft took 43% of the price they charged her. 
So I retained 57%, for which I provided the car, the manpower, the gas, the wear and tear on the asset. Plus, it is accepted that I provide the ride to (!) the pick-up for free. Factoring that in, my take is now less than 50%, and Lyft earns the majority of the fare. 

No wonder they become ever more profitable.


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## DriverMark (Jan 22, 2018)

AllenChicago said:


> For those of you who have not been driving very long, Lyft keeps finding ways to keep more of each passenger's fare, along with implementing very small fare increases.


This is exactly why Lyft took way drivers ability to see what the total fare was from passengers..............


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## Nats121 (Jul 19, 2017)

DriverMark said:


> This is exactly why Lyft took way drivers ability to see what the total fare was from passengers..............


I assume Lyft's driver contract is similar to Uber's.

Uber's contract states that any money paid by the pax is collected by Uber on the driver's "behalf" (lol) and passed along to the driver with Uber's "fees" taken out.

With that in mind, it would be nice if there was someone from the media who's honest and competent enough to sleazy lying Zimmer two questions...

1) How do you justify charging drivers various fees for passing along something that belongs to them and then telling them how much they're being charged for that "service" is "none of their business"?

2) How do justify telling the drivers that pax money belongs to them and then telling them that the amount of something that belongs to them is "none of their business"?


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## DriverMark (Jan 22, 2018)

Nats121 said:


> I assume Lyft's driver contract is similar to Uber's.
> 
> Uber's contract states that any money paid by the pax is collected by Uber on the driver's "behalf" (lol) and passed along to the driver with Uber's "fees" taken out.
> 
> ...


All things that "could" come out in the AB5 lawsuits in CA. Or be used against Lyft. At least Uber is attempting to make changes to subvert AB5. Lyft just went about business as usual and might bite them in the ass.


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## Mista T (Aug 16, 2017)

Lyft is a bunch of lying scum just like Uber. They are both full of misinformation. It is what they aren't telling you that is important.

When they say that Active Riders increased, that means that the number of accounts in existence that took at least one ride in the quarter (an Active Rider) went up. So, by creating a new account and taking a ride, this increases their Active Rider count. But that doesn't mean that they did an increase in OVERALL rides.

As far as revenue growth: by doing 2 things they can boost that number. 1, stop giving away discounts. 2, more surges to pax.

By doing those 2 things Lyft can temporarily boost revenue. But higher prices piss ppl off, so ppl create new accounts (to get a new customer discount). Thus, Active Ridership grew!

Another factor may be the addition of accounts in the health care sector. When Dr Bob orders a ride for patient Sam, it creates a new account, and Lyft charges full price, which is absorbed by an insurance company. Sam gets a "free" ride, Dr Bob is so awesome at taking care of patients, and Lyft gets a new Active Rider and full revenue. PS: that ride is forcibly blocked from adding in-app tips.


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## tohunt4me (Nov 23, 2015)

GregJinAZ said:


> The parasitic tumor has successfully grown


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## mbd (Aug 27, 2018)

Those earnings can easily be manipulated.
They don’t give out ride bonuses at the beginning of the quarter and once they know the numbers can be achieved , bonuses pop up 😄 you will see the so called pink zone pop up and give you free $$$$$, for no reasons.
sometimes the pink zones are legit and sometimes complete fake . They can go up on the price of a ride from or to airport by 10$ and keep the whole 10, on and on and on.


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## Realist2019 (Nov 4, 2019)

Nats121 said:


> I assume Lyft's driver contract is similar to Uber's.
> 
> Uber's contract states that any money paid by the pax is collected by Uber on the driver's "behalf" (lol) and passed along to the driver with Uber's "fees" taken out.
> 
> ...


If Im not mistaken, but would you even get paid to drive if Lyft/Uber didn't provide the platform that you use. They should be able to take as MUCH as they please. And if its too much just get another job. I don't get the complaining that goes on when one has a choice


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## GumballWaterson (Jan 17, 2020)

It's all just Fuzzy Math.


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## nonononodrivethru (Mar 25, 2019)

Q2 numbers are going to cause another mini market crash. Q1 is Jan Feb and Mar. Virus got crazy mid March.

If you own any stock, I recommend selling before July.


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## Grubermax (Oct 21, 2018)

During the pandemic Uber and Lyft did not find it necessary to pay any bonuses to existing drivers because there were now twice as many drivers looking for work and half ot three quarters as many passengers looking for rides. So, drivers are actually getting paid LESS now than before the stay at home orders which means better profits for both. Also, the riders who are taking rides now are doing so out of necessity and desparation. They're going to jobs or doing other essential things and thus there's no need to give them coupons for cheaper rides of free rides. More profits from there to both companies.

And those $500 bonuses to refer new drivers to Lyft and Uber. Poof! More money saved.

What puzzles me is that Uber Eats boomed lately and despite that advantage, Uber earnings decreased but Lyft's have increased.


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