JUMP REPORT

Lyft riders will soon have the option for paying and splitting fares using Venmo, the company said in a blog posting this morning. Venmo joins Lyft’s other payment methods of PayPal, credit cards, debit cards, Lyft Cash and more. To enable the payment method, users need to authorize Venmo in the Lyft app.

A Biden presidency may prove challenging to some cash-strapped companies that may as well raise money now while there’s still doubt about who will be in the White House come January.

Motional, a global driverless technology leader, and Lyft (Nasdaq: LYFT) today announce the resumption of their pioneering self-driving mobility service in Las Vegas. The publicly-available autonomous fleet — the world’s longest-standing, which has provided more than 100,000 paid rides — consists of Motional robotaxis, operating on the Lyft network.

Chief Executive Dara Khosrowshahi said Tuesday that California residents could see the costs of ride-sharing as much as double, but UC Berkeley professor and economist Michael Reich disputes those figures.

During Q2, Lyft’s (NASDAQ: LYFT) reported sales totaled $339.35 million. Despite a 17.72% in earnings, the company posted a loss of $487.50 million. Lyft collected $955.71 million in revenue during Q1, but reported earnings showed a $414.11 million loss.Why ROCE Is Significant Changes in earnings and sales indicate shifts in Lyft’s Return on Capital Employed, a measure of yearly pre-tax profit relative to capital employed by a business. Generally, a higher ROCE suggests successful growth of a company and is a sign of higher earnings per share in the future. In Q2, Lyft posted an ROCE of -0.21%.It is important to keep in mind ROCE evaluates past performance and is not used as a predictive tool. It is a good measure of a company’s recent performance, but several factors could affect earnings and sales in the near future.View more earnings on LYFTROCE is an important metric for the comparison of similar companies. A relatively high ROCE shows Lyft is potentially operating at a higher level of efficiency than other companies in its industry. If the company is generating high profits with its current level of capital, some of that money can be reinvested in more capital which will generally lead to higher returns and earnings per share growth.For Lyft, the return on capital employed ratio shows the current amount of assets may not actually be helping the company achieve higher returns, a note many investors will take into account when making long-term financial decisions.Q2 Earnings Recap Lyft reported Q2 earnings per share at $-0.86/share, which beat analyst predictions of $-0.99/share.See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Analyzing Lyft’s Unusual Options Activity(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.