Lyft posts large loss in its first quarterly report as a public company, stock falls 3%.
Tuesday but said it made strides in growing its active ridership. The stock initially spiked on the news before turning mostly flat.Loss per share:While analysts' non-comparable estimate of a $1.81 loss per share for Lyft's first quarter per Refinitiv's survey of analysts could have been on the low-end due to a lack of data typical of a company fresh on the public market, Lyft's loss is still significant.
The steep loss still marks an improvement from Lyft's year-ago quarter, when Lyft reported a non-GAAP loss of $11.40 per share. For its second quarter, Lyft said it expects to report revenue between $800 million and $810 million. It guided total revenue between $3.275 billion and $3.3 billion for the full fiscal year.
Despite the skepticism on the public exchange, Lyft has continued to grow its user base over the first quarter of its fiscal year. The company said it had 20.5 million active riders in the quarter compared to 14 million in the first quarter of 2018. It also saw increased revenue per active rider at $37.86 compared to $28.27 for during the same quarter last year.
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