:Lyft Inc forecast a disappointing second quarter on Thursday despite a strong performance in the January-March period, fanning doubts about its effort to turnaround its ride-share business amid competition from Uber.
The dismal forecast follows job cuts by Lyft, which is trying to cut costs under new CEO David Risher who took charge last month. "We've seen really nice growth, our share is now north of 30 per cent and earlier this year it was sort of in the mid-to-high 20s," he said in an interview to Reuters. As a dominant player in key global markets, Uber has been making the most of this year's rebound in travel demand from pandemic-induced lull.
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