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
-
Things to Know About Cam Grinding
By James Gaffney, Product Engineer, Precision Grinding and Patrick D. Redington, Manager, Precision Grinding Business Unit, Norton Company (Worcester, MA)
-
GM Develops a New Electrical Platform
GM engineers create a better electrical architecture that can handle the ever-increasing needs of vehicle systems
-
On Electric Pickups, Flying Taxis, and Auto Industry Transformation
Ford goes for vertical integration, DENSO and Honeywell take to the skies, how suppliers feel about their customers, how vehicle customers feel about shopping, and insights from a software exec
