Nomura Downgrades Uber and Lyft After Outsized Gains in 2023
LYFTLyft(LYFT) PYMNTS·2023-12-29 23:55

While ridesharing giants Uber and Lyft experienced significant growth in revenue in 2023, they reportedly facechallenges in 2024. For different reasons, financial services group Nomura recently downgraded both Uber and Lyft, Seeking Alpha reported Friday (Dec. 29). Uber, the dominant player in the ridesharing industry, reported an 11% increase in revenue in the third quarter of 2023 compared to the previous year, according to the report. This growth contributed to Uber’s overall strong financial performance ...