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Wall Street eager to see when Uber, Lyft expect return to normalcy following COVID-19
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With the pandemic still suppressing ridesharing demand, Wall Street is keen to know how soon Uber Technologies Inc and Lyft Inc expect a rebound and how they plan to keep costs under control until then.
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UBER TECHNOLOGIES INC.
Investors are also hoping for more insight on Uber’s successful food delivery operations and Lyft’s efforts to set up a delivery business when the companies report fourth-quarter results this week.
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Analysts generally do not expect ride-hail demand to rebound before the second half of 2021, when more people have been vaccinated and offices and businesses have reopened, which suggests a somewhat gloomy outlook for the broader consumer-based economy.
The sluggish recovery also complicates Uber and Lyft’s efforts to become profitable on an adjusted basis by the end of this year.