Lyft posts strong growth, big losses in first public quarter

Lyft posts strong growth, big losses in first public quarter

Ride-hailing company Lyft reported strong revenue growth but substantial losses in its first quarterly earnings report. Lyft posted revenue of $776 mn for the first quarter of 2019. But the company lost $1.1 billion in the quarter, primarily because it paid out $894 mn in stock-based compensation and related payroll taxes. Adjusting for those one-time costs, losses amounted to $211.5 mn.

Simone
Simone
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