Lyft is likely to take some gas out of Uber’s IPO tombuerkle
Lyft on May 7 reported revenue of $776 million for the first quarter of 2019, almost double the same period a year earlier, in its first results since an initial public offering in March.
The ride-hailing app recorded a loss of $1.1 billion, mostly reflecting the cost of stock-based compensation tied to the IPO. Excluding such items, its $212 million loss was slightly smaller than a year ago. Lyft expects its revenue to be between $800 million and $810 million for the quarter ending June 30, and forecasts an adjusted EBITDA loss of between $270 million and $280 million.
Rival ride-hailing company Uber Technologies is set to price its own initial public offering on May 9.
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