Join our growing community to challenge mainstream media bias and fix the news
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
Top in Business