Per ST data, elevated global summer travel demand propelled 2Q23 MAUs on Uber (+7% YoY, 6% QoQ) and Lyft (+8% YoY, 5% QoQ), but YoY growth was still well below that of 2022 and 2021
Uber’s large international presence continues to buoy the rideshare giant’s performance compared to US-centric Lyft. In 2Q23, the US represented 88% of Lyft’s total MAUs vs 17% for Uber, which has seen aggressive growth in international markets
Per ST data, 2Q23 Uber MAUs in rapidly developing, rest-of-world markets such as Argentina, Brazil, India, and Pakistan were up a collective 15% YoY and represented 42% of Uber’s total MAUs in 2Q23 compared to 28% in 2Q20
Per ST data, Uber also bested competitor Lyft in driver supply growth as the Uber Driver app saw 2Q23 MAUs increase 18% YoY vs 7% for Lyft Driver. Although the Uber Driver and Lyft Driver apps saw similar levels of YoY growth in 2Q23 US MAUs (+6-8%), Uber again benefited from significant gains in international markets
Uber saw 2Q23 weekly average time spent (+3%) and sessions (+2%) rise low-single digits YoY, but exhibited a significant increase in those same metrics on the Uber Driver app (+10%, +9%), which could indicate an increased number of trips (or longer trips) as drivers opened the app more frequently in addition to logging more time on the app (presumably completing trips or searching for passengers)
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