SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Lyft Inc. (LYFT) on Wednesday reported a loss of $12.4 million in its third quarter.
The San Francisco-based company said it had a loss of 3 cents per share. Earnings, adjusted for stock option expense and restructuring costs, came to 29 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The ride-hailing company posted revenue of $1.52 billion in the period, also exceeding Street forecasts. Eleven analysts surveyed by Zacks expected $1.43 billion.
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