After its $1.1 billion loss, Lyft says that 2019 will be the company's 'peak loss year' by bizcarson
FILE - In this March 29, 2019 file photo, Lyft co-founders John Zimmer, front second from left, and Logan Green, front second from right, cheer as they as they ring a ceremonial opening bell in Los Angeles. Shares in the ride-haling company Lyft, theDon’t expect profits anytime soon, but Lyft is hoping losses will drop after this year. In its first quarterly results after its IPO, Lyft reported a $1.
Revenues reached $776 million in the first quarter, up nearly 95% from the year-ago quarter, and beating analyst estimates of $739 million, compiled by Refinitiv. The number of active riders jumped to 20 million, up 46%, helped by publicity around the company’s IPO, Roberts says. The stock market seemed unsure of what to make of Lyft's earnings: it dropped down 2% after-hours, before going green again, and then sliding again. Still, not the boost Lyft may have been hoping for following a tepid reaction to its IPO.
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