Lyft Tries to Assure Investors That Losses Will Drop in 2020
- Revenue forecasts surpassed Wall Street’s expectations
- Market share battle with Uber is driving big losses this year
This article is for subscribers only.
In its first financial report since going public, Lyft Inc. exceeded analysts’ sales expectations and assured investors that its hefty losses will decrease next year.
The San Francisco-based company projected second-quarter revenue of $800 million to $810 million. Analysts were expecting $782 million, according to data compiled by Bloomberg. Sales grew 95 percent to $776 million in the first quarter, beating estimates by $38 million.