Lyft couldn't pivot to food delivery or overseas markets as the coronavirus decimated ride-hail in the US. Here's what to expect from its earnings report. (LYFT)

* Lyft will reveal its second-quarter financial results on Wednesday afternoon. * Unlike Uber, which reported last week, Lyft didn't have a delivery arm to lean on as the coronavirus decimated rides requests. * Analysts expect the company to report its lowest revenues in more than three years. * Visit Business Insider's homepage for more stories. Lyft will report its second-quarter results on Wednesday afternoon, providing the first comprehensive look at just how badly the coronavirus pandemic hurt the ride-hailing company's business from April through June. Analysts polled by Bloomberg expect the company to post its lowest revenue in more than three years. Here are the numbers: * Revenue: $334 million, a 65% decrease from the first quarter. * Net income: $301 million, a 10% decrease from the first quarter. * EPS: $-0.99, a 10% decrease from the first quarter. The smaller cash burn is likely thanks in part to massive cost cutting efforts by Lyft this spring, including a 17% trim to its workforce resulting in about 1,000 layoffs. "We expect Lyft to execute well on the cost discipline side," Doug Anmuth, an analyst at JPMorgan, said in a note to clients. Lyft doesn't have a food-delivery arm to lean on, unlike Uber, which for the first time reported revenues for its Eats business that topped its core ride-hailing unit last week. Plus, Lyft only operates in North America, so the continued spread of COVID-19 in the United States has an outsized effect on its business. Lyft said in June — its most recent update — that some US markets were beginning to show meaningful increases after bottoming-out in March. Austin, for example, was up 73% in May over April. But the US' pandemic hasn't slowed much since that update, and data from Chase credit card suggests that the initial uptick seen by Lyft was short lived. "We believe that after weeks of rideshare volume improvements into early June, recovery has slowed, stalled, or reversed in some cities," JPMorgan analysts wrote earlier in August. And like Uber, Lyft faces significant headwinds in California where the two companies are sparring with state regulators and labor activists about their drivers' classification as contractors versus employees. Shares of Lyft are down nearly 30% since the beginning of 2020. Join the conversation about this story » NOW WATCH: How waste is dealt with on the world's largest cruise ship
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Apple has backed down in its latest developer fight, apologizing to WordPress after it pressured the website-builder to add in-app payments

* Apple has apologized after it tried to force WordPress to add in-app payment options to a free app. * WordPress' founder said on Friday that Apple was refusing to allow any updates to the WordPress iOS app until the website builder added in-app purchases, from which Apple takes a 15-30% commission. * Apple is in a fierce fight with developers including "Fortnite" maker Epic Games and Spotify over its rules on in-app purchases. * Visit Business Insider's homepage for more stories. Apple has backed down in its latest skirmish with a developer over its App Store rules. The tech giant on Sunday issued a rare apology to WordPress after it pressured the website builder to add payment options to its free iOS app, or else be blocked from updating. "We believe the issue with the WordPress app has been resolved," an Apple spokesman told The Verge. "Since the developer removed the display of their service payment options from the app, it is now a free st...

SpaceX has a 'go' from NASA to return 2 astronauts to Earth on Sunday as Hurricane Isaias threatens several Florida splashdown locations

* NASA on Saturday gave SpaceX a "go" to undock the company's first crewed space mission, called Demo-2, and land it on Sunday evening. * Hurricane Isaias complicated original plans to return two astronauts to Earth aboard SpaceX's Crew Dragon spaceship in the Atlantic Ocean. * Elon Musk's aerospace company may now try to splash down NASA astronauts Bob Behnken and Doug Hurley in the Gulf of Mexico. * Two out of seven total landing sites near Florida must have good weather conditions, and NASA has until about 5 p.m. ET on Saturday to call off the undocking. * Should the weather worsen, NASA and SpaceX can try again a day later or some other date over the next two months. * Visit Business Insider's homepage for more stories. Astronauts Bob Behnken and Doug Hurley have a "go" to return to Earth this weekend and wrap up an historic space mission for both NASA and SpaceX. Behnken and Hurley launched to orbit aboard SpaceX's Crew Dragon vehic...

What an independent contractor actually is and how it's classified under California's Assembly Bill 5, the gig worker law Uber, Lyft, and others are fighting with a November ballot measure

* California's Assembly Bill 5 (AB5) went into effect in January, adopting a narrow definition of independent contractor that forces Uber and other gig economy businesses to choose between reclassifying workers as employees or risking significant liability for misclassification. * The law serves as a reminder to California businesses to be careful when classifying workers as contractors. * Classifying independent contractors falls into two main categories: the "right to control" test (often called the "IRS test") and the tougher "ABC test" recently adopted in AB5. * Uber, Lyft, and DoorDash have recently poured $30 million into Proposition 22 — a ballot measure intended to exempt major ridesharing and food delivery companies from AB5. If California residents vote the measure into effect in November, Uber and Lyft can continue classifying drivers as contractors. * Visit Business Insider's homepage for more stories. In September 2019, Californ...

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