Lyft Posts Strong Growth, Big Losses in First Public Quarter

Posted by Cathy Bussewitz

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The ride-hailing company posted revenue of $776 million during the first quarter of 2019, nearly doubling the amount it made the same time last year. Their revenues beat expectations of analysts polled by FactSet, who were expecting $740 million.

But the San Francisco-based company lost $1.1 billion in its first public quarter, primarily because it paid out $894 million in stock-based compensation and related payroll taxes during its initial public offering….CLICK for complete article