SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Lyft Inc. (LYFT) on Thursday reported a loss of $187.6 million in its first quarter.
The San Francisco-based company said it had a loss of 50 cents per share. Earnings, adjusted for stock option expense and restructuring costs, were 8 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.
The ride-hailing company posted revenue of $1 billion in the period, also topping Street forecasts. Twelve analysts surveyed by Zacks expected $976.9 million.
For the current quarter ending in June, Lyft said it expects revenue in the range of $1 billion to $1.02 billion.
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