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Lyft reports profit or loss after it was published



With these costs excluded, Lyft's net loss for the quarter was $ 211.5 million, a staggering amount of some standards, but about level with the $ 234 million lost in the same period the year before.

While keeping the losses largely in line with previous years, Lyft almost managed to double revenue. The promise had a turnover of $ 776 million in the quarter, an increase of 95% from the previous year.

The lifting material doubled 3% after trading after the profit and loss account.

  Uber and Lift drivers are planning to strike and rally in front of Uber's IPO
That was the first time ] Lift ( LIFT ) reported earnings results since they were published at the end of March. Its Wall Street honeymoon proved to be short-lived. Lift's stock fell below the IPO price of $ 72 per share on its second trading day and continued to fall.
Shares fluctuated around $ 60 on Tuesday ahead of earnings, more than 15% below the IPO, as investors weigh concerns about a company that lost nearly $ 1 billion in 2018 and have a costly battle with the much larger uber.

"Let's not make it sugar, Lyft's share has been a scratching train wreck since IPO," writes Daniel Ives, an analyst with Wedbush, in an investor note this month.

Some saw Lyft's brutal debut as a warning sign for the growing list of technological unicorn racing to become public. Still, recent IPOs like Pinterest ( PINS ) and Zoom ( ZM ) remain far above their IPO price . However, Pinterest had relatively modest losses, and Zoom is profitable.

Ives said investors chose to take a "wait and see approach" to advance in front of the revenue report, and with Uber set to make their Wall Street debut later this week.


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