Company News: Lyft (LYFT) posts bigger-than-forecast quarterly loss

Market news

7 May 2020

Company News: Lyft (LYFT) posts bigger-than-forecast quarterly loss

Lyft (LYFT) reported Q1 FY 2020 GAAP loss of $1.31 per share (versus -$9.02 per share in Q1 FY 2019), worse than analysts' consensus estimate of -$0.63 per share.

The company's quarterly revenues amounted to $0.956 bln (+23.2% y/y), beating analysts' consensus estimate of $0.830 bln.

Meanwhile, Lyft's average riders increased 3% y/y to 20.5 mln.

LYFT rose to $29.90 (+14.47%) in pre-market trading.

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