Lyft suggested that investors’ poor little brains just couldn’t handle a separate figure outlining the actual size of its business, yet offered several different versions of profitability, Therese Poletti writes.
Lyft’s LYFT, -2.03% first-quarter results were not an auspicious beginning for the ride-hailing company, as it reported quarterly losses that topped $1 billion thanks to the stock-based compensation that is always an issue in the first quarter after initial public offerings. Even after adjustments, Lyft claimed losses of more than $200 million, or $9.
When earnings arrived Tuesday, however, bookings and all the related information were nowhere to be found. When asked about it at the end of the company’s conference call, Chief Financial Officer Brian Roberts said that because Lyft is expanding beyond ride-hailing into bikes and scooters, investors just wouldn’t be able to understand the bookings data.
Lyft did not offer any other numbers that could provide visibility into the revenue breakdown, though. No separate revenue on its forays into shared bikes and scooters, nor expected financial information on its just-announced relationship with Waymo, the self-driving car business owned by Alphabet Inc. GOOG, -1.29% GOOGL, -1.22% .
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Uber is 'totally different' to Lyft, major investor Saudi Arabia says ahead of IPOSaudi Arabia's sovereign wealth fund says Uber is 'totally different' to Lyft despite investor concerns over profitability.
Read more »
Uber and Lyft drivers plan to strike and rally ahead of Uber's IPORideshare drivers are planning to strike and rally again — this time, ahead of Uber's impending IPO
Read more »
Lyft shows large losses in first earnings since IPO, but sales beat expectationsLyft Inc. reported better sales than expected in its first quarterly earnings report as a public company Tuesday, but also disclosed massive losses even...
Read more »
Lyft takes some gas out of Uber’s IPOThe smaller ride-hailing app beat revenue estimates with its first post-listing results and burned less cash. But growth is slowing, making profit a more distant goal for the $17 bln firm. That, and a fresh wobble in the stock, flash a hazard light for its big rival’s offering.
Read more »
Uber, Lyft drivers plan to strike ahead of Uber’s IPODrivers are calling for better job security, a livable income and a cap on the ride-hailing companies’ commission.
Read more »
Lyft forecasts 2019 peak year for losses, sees path to profit with ride sharingLyft Inc on Tuesday forecast that 2019 would be the peak year for losses after t...
Read more »
Warren Buffett: I'm not buying the Uber IPO, but I've never bought any IPO everBerkshire Hathaway Chairman and CEO Warren Buffett explains why he passed on Uber's initial public offering.
Read more »
Warren Buffett: I'm not buying the Uber IPO, but I've never bought any IPO“In 54 years, I don’t think Berkshire has ever bought a new issue,” Warren Buffett said.
Read more »
Uber, Lyft drivers plan to strike in more than a dozen major citiesRide-hailing drivers in more than a dozen cities plan to strike on Wednesday ahead of Uber's highly anticipated Wall Street debut.
Read more »
Strike by Uber and Lyft drivers Wednesday has potential to disrupt travel for thousandsThe work stoppage could mean longer waits for service and surge pricing — if you can hail a ride at all.
Read more »
Lyft just lost its lawsuit against New York City's minimum wage rule for driversA judge ruled Wednesday that Lyft and Juno must pay their drivers according to rules set out by the City Council in March.
Read more »