Mexican Media Brands
Lyft Hikes Outlook as Revenue Jumps
Ride-hailing service Lyft Inc. predicts more revenue and narrower losses for 2019.
#economics
Share
Ride-hailing service Lyft Inc. predicts more revenue and narrower losses for 2019.
Lyft’s second-quarter revenue surged 72% to $867 million, surpassing analysts’ forecasts by 8%. The company also raised its full-year guidance by about $200 million to some $3.5 billion.
Net loss in April-June ballooned to $644 million from $179 million a year ago, mainly because of costs related to stock-based compensation, related payroll expenses and changes in insurance liabilities. Adjusted net loss deepened 11% to $197 million, according to the company.
Lyft now expects its adjusted earnings loss before interest, taxes, depreciation and amortization will narrow to about $863 million, a $300 million improvement over its previous guidance.
RELATED CONTENT
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
Is The V8 Dead?
Tougher fuel economy standards may be the end of most V8s.
-
Fuel Economy Gains in July
What you’re looking at here is a sales-weighted fuel economy chart (the numbers in the white boxes represent miles per gallon) that was put together by two diligent researchers, Michael Sivak and Brandon Schoettle, of the University of Michigan Transportation Research Institute.
