42 days ago • Posted by William Ramstein
Lyft beat estimates--on edge of a cashflow breakeven
''With the world slowly emerging from the covid pandemic, ridesharing services are seeing an impressive return to normalcy as the just released results from Lyft showed. After seeing its revenue crash as much as 61% in the first full post-covid quarter, moments ago Lyft reported that in Q1 2021, earnings were down 36% from a year ago (and up 7% from Q4), the smallest decline in a year, even if total revenues of $609MM (which beat exp of $557.3MM) were still some $350MM shy of the $955MM it made a year ago, thanks to 13.5 million active riders, above the estimated 12.7 million.''
Source: Zero Hedge