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5/4, 10:08 PM (Source: TeleTrader)
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Lyft revenue down 36% to $609M YoY, beats estimates

Lyft ride-sharing company revealed its financial results for the first quarter of 2021, marking a revenue of $609 million, which is down 36% compared to the same period of last year, but 7% higher than the same figure in the last fourth quarter of 2020. The number of active riders has decreased by 36% to 13,494 customers year-on-year.

The company's net loss amounted to $427.3 million, which is a 7% bigger loss than the $398.1 million figure of the comparable figure of last year. Lyft also reported a net loss per share of 35 cents.

"The improvements we've made over the last year are paying off - we've built a much stronger business. As the recovery continues, we are confident that we will be able to deliver strong financial results. We expect to build a significantly larger company by attacking the trillion dollar plus market opportunity in front of us," said Logan Green, Lyft's CEO.

Breaking the News / LH