Lyft Reports Their Revenue and Losses
May 7, 2019
If you drunkenly called a Lyft at 2AM at any point during the first quarter of 2019, Lyft (and its investors) thank you. The ride-hailing company brought in $776 million in revenue during the first three months of this year, which is almost double of what it brought in during the same period in 2018.
There's always a catch, though. The company's losses added up to $1.1 billion during that time. To be fair, most ($859 million to be exact) of this loss comes from stock compensations the company had to pay as part of its IPO. Take that away, and the losses add up to $211.5 million — which is $16.9 million less than what they lost in the first quarter of 2018.
It'll be interesting to see if their revenue growth can continue at this rate.