SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Lyft Inc. (LYFT) on Thursday reported first-quarter profit of $2.6 million.
On a per-share basis, the San Francisco-based company said it had profit of 1 cent. Earnings, adjusted for stock option expense, were 19 cents per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The ride-hailing company posted revenue of $1.45 billion in the period, which also fell short of Street forecasts. Eleven analysts surveyed by Zacks expected $1.46 billion.
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