NEW YORK (AP) — Lyft continued to bleed money in its second-quarter but says it expects to stem some of those losses, raising its outlook for 2019.
The ride-hailing company on Wednesday posted revenue of $867.3 million, up 72% from the same time last year.
But the San Francisco-based company lost $644.2 million in the quarter, which was worse than the $445 million loss that analysts polled by FactSet expected.
More than a third of the loss, or $296.6 million, came from stock-based compensation Lyft paid out after its initial public offering in March. The company also lost $141.1 million due to changing requirements for liabilities for insurance.
NEW YORK (AP) — Lyft continued to bleed money in its second quarter but says it expects to stem some of those losses, raising its outlook for 2019.
The ride-hailing company on Wednesday posted revenue of $867.3 million, up 72% from the same time last year.
But the San Francisco-based company lost $644.2 million in the quarter, which was worse than the $445 million loss that analysts polled by FactSet expected.
More than a third of the loss, or $296.6 million, came from stock-based compensation Lyft paid out after its initial public offering in March. The company also lost $141.1 million due to changing requirements for liabilities for insurance.
