Lyft Is Left Paralyzed by the Pandemic With Sales Plummeting 61%

Lyft Inc. reported its worst financial performance as a public company Wednesday in a quarter hampered by the coronavirus pandemic, a steep revenue decline and a wider loss.

The San Francisco-based company still maintains its forecast for a quarterly adjusted profit by the end of next year, even with at least 20% fewer rides than previously anticipated. Uber Technologies Inc. reiterated a similar profit forecast last week. But the businesses face unpredictable risks from the virus and a push for gig workers to receive employment benefits.