As anyone who has used them before knows,apps like Uber and Lyft just provide the technology and system for connecting drivers and passengers. They don't operate any of the cars, and are simply taking a cut on transactions. It's not that different of a trade model than what many of the major hotel chains have, or whereby they basically just manage hotels and catch a cut of the revenue in fees.
It's easy to assume that these companies are hugely profitable,given that in theory they aren't particularly capital-intensive.
While Uber is by far the largest, Lyft also has a good amount of market share, or particularly in the US. Unfortunately that doesn't mean they're anywhere close to turning a profit. They're trying to raise $500 million in capital from investors,though the private fundraising documents which have been made public reveal a dire financial situation.
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Source: boardingarea.com