Lyft shares rally 14% after it reports Q1 revenue growth of 23% to $955.7M

Fresh off of a large round of layoffs, Lyft reported its Q1 results this afternoon. The ride-hailing company disclosed that it generated revenue of $955.7 million in the first three months of 2020, up 23% from its year-ago Q1 revenue result of $776 million. The company’s net loss of $398.1 million was also an improvement…

Lyft shares rally 14% after it reports Q1 revenue growth of 23% to $955.7M

Fresh off of a large round of layoffs, Lyft reported its Q1 results this afternoon. The ride-hailing company disclosed that it generated revenue of $955.7 million in the first three months of 2020, up 23% from its year-ago Q1 revenue result of $776 million.
The company’s net loss of $398.1 million was also an improvement on its year-ago, IPO-impacted result. On an adjusted basis, Lyft lost $97.4 million, and its adjusted EBITDA result was a slightly better -$85.2 million. Lyft lost $1.31 per share in the quarter.
The company’s preceding guidance of around $1.06 billion in revenue and negative adjusted EBITDA of as much as $145 million now looks somewhat rosy in retrospect; investors’ final expectations for the company as detailed by
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