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Lyft cuts losses as revenue surges -the Information
November 30, 2017 / 10:49 PM / 18 days ago

Lyft cuts losses as revenue surges -the Information

Nov 30 (Reuters) - Ride-hailing company Lyft’s losses narrowed in the first half of the year as revenue more than tripled to $483 million, technology news website the Information reported on Thursday.

Lyft’s net loss fell 27 percent to $206 million for the first half of 2017, the website reported, citing the company’s financial statements.

Revenue in the first half of last year is estimated to be around $150 million, although accounting changes make a straight comparison difficult, according to the Information.

The company’s strong revenue gains come at a time when larger rival Uber struggles with a series of scandals and setbacks.

Lyft was not immediately available for comment. (Reporting by Akshara P in Bengaluru; Editing by Anil D‘Silva)

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