A #DeleteUber campaign surged on social media. The negative publicity helped Lyft attract new drivers and riders without spending much on marketing.
Uberâ€™s full-year revenue for 2018 was $11.3 billion, up 43 percent from the prior year. Its losses before taxes, depreciation and other expenses were $1.8 billion, an improvement over the $2.2 billion loss posted in 2017.
Given that both Uber and Lyft are still losing money, investors will be focused on their growth and potential for future profitability. Lyft has prepared some earnings metrics it hopes will persuade investors that it will not be in the red for long, Reuters reported last week.