SAN FRANCISCO - Lyft Inc’s quarterly revenue rose 95% and topped market expectations on Tuesday as the ride-sharing company reported its first results after going public, days before rival Uber plans its own IPO.
Lyft, which has nearly 40% of the U.S. ride-sharing market, said increased demand helped push revenue to $776 million in the quarter, 95% above its $397.2 million a year earlier, and up 16% from its fourth quarter. The company also forecast an expected adjusted EBITDA loss of $270 million to $280 million for the second quarter.Lyft posted revenue of $37.86 from each of its 20.5 million active riders during the first quarter, a 34% increase in revenue and a 46% increase in riders over the same period in 2018.
Both Lyft and Uber have warned in regulatory filings that they may never make a profit and they face growing competition, friction with drivers and pricing pressure.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lyft to report earnings for the first time as a public companyLyft's stock has tumbled since its public debut in March as analysts scrutinize its path to profitability as rival Uber prepares its IPO. here comes the rekt Down 600, about right... Daddy needs a new house!
Source: CNBC - 🏆 12. / 72 Read more »
Lyft to face first major test as public company with quarterly revealLyft Inc's first quarterly report on Tuesday as a public company is expecte... Lyft And Uber Drivers Are Going On Strike Tomorrow, May 8 Do Not Take Any Lyfts Or Ubers Tomorrow Do Not Cross Our Picket Lines
Source: Reuters - 🏆 2. / 97 Read more »
LIVE: Lyft is about to report earnings for the first time as a public companyLyft's first-quarter earnings report, its first as a public company, comes days before rival Uber is expected to price its own shares.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Uber and Lyft drivers are planning to strike this week, and it highlights the challenge the 2 ride-hailing giants face as public companiesUber and Lyft are still fighting tooth and nail for market share in the United States. still trying to figure out how much an uber driver actually earns per hour after expenses
Source: BusinessInsider - 🏆 729. / 51 Read more »
Lyft Earnings: What to WatchLyft has a lot riding on the number of so-called active riders who regularly use its services—and for that matter, how much it can make from each of them WSJ, How much of the Lyft earnings are going to shareholders? Oh...$0! Betcha didn’t “watch out” for that😉 Basic logic. Business 101 in the headline: [insert company name] has a lot riding on the number of so-called active [description of customer of company] who regularly use its services-and for that matter, how much it can make from each of them. You still think your assets are secured on exchange you use ? Think again, Do not wait until it happens with your exchange and get a Ledger Nano X now.
Source: WSJ - 🏆 98. / 63 Read more »