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Uber sinks on Q1 loss while Lyft ridership increases

Shares of Uber (UBER) are trading lower Wednesday morning after the company posted its first quarter results, revealing gross bookings fell below estimates. However, revenue grew 15% year over year to $10.13 billion.

In contrast, Lyft (LYFT) shares are rising as the company beat revenue expectations on the top and bottom line for its first quarter results. In addition, the company grew active ridership, exceeding expectations, at its fastest pace since 2022.

Yahoo Finance Anchors Brad Smith and Seana Smith break down the latest developments for both companies and what they could mean for the stocks moving forward.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Nicholas Jacobino