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Uber and Lyft have competed for riders and drivers across North America. They raced each other to go public. They even filed paperwork for their initial public offerings with the Securities and Exchange Commission on the same day late last year.
Now that Lyft is publicly traded and Uber's own initial public offering is approaching, they're also going to be competing for stock investors
[Uberislosing$18billionayearits IPO filing reveals.]
By most measures, Uber is much bigger and has a more diverse revenue stream. Its revenue comes not just from ride-sharing but from Uber Eats, its food delivery business, as well as from its trucking business and bike and scooter sharing. By comparison, operates in the United States and Canada and generates almost all of its revenue from its ride-hailing service.
Lift, though, appears to be growing more quickly.
, that show how the two companies stack up.
Bookings are the revenue generated from rides. Lift excludes taxes, tolls and tips, while Uber excludes tips. Uber's bookings include its food delivery service and other businesses
Not surprisingly, then, Lyft's bookings are significantly lower for Uber's, but they are growing faster.
Lyft's bookings surpassed $ 8 billion in 2018, 76 percent more than the previous year. Uber increased its bookings to $ 50 billion last year, up 45 percent from 2017.
At lyft and uber, revenue is the portion of bookings that goes to the companies – or, essentially, bookings minus what the drivers were
Revenue at both companies increased quickly in 2018, though faster at Lift. That was still less than what its rival generated last year. Uber’s revenue hit $ 11.3 billion, up 43 percent. In the third and fourth quarters, Uber's revenue increased 38 percent and 25 percent from a year earlier. Lifting revenue for those quarters rose 93 percent and 94 percent.
Both companies are racking up big losses. In this case, Lyft's faster pace is not a good thing.
Uber lost $ 1.8 billion last year, up from $ 688 million in 2017. Uber lost $ 1.8 billion last year, excluding certain one-time items, but that was better than a $ 4 billion loss in 2017.
The ride-hailing business is inherently expensive. Both are running heavily to recruit drivers and attract riders. They are making big investments in new businesses such as autonomous driving and bike sharing.
You may be expanding its revenue faster than Uber, but it's also increasing its spending at a rapid catch to catch up to its competitor. Lifting total costs and expenses were $ 3.1 billion in 2018, up 77 percent from $ 1.8 billion in 2017. Uber's topped $ 14 billion last year, at 19 percent increase from 2017.