lyft unveil waymo partnership
Lyft unveils Waymo partnership as loss widens to $1.1 billion
LOS ANGELES - Lyft said Tuesday its loss in the past quarter widened to $1.1 billion in the ride-hailing giant's first financial report as a public company, as it announced it was teaming up with former Google car unit Waymo on autonomous taxis. Revenue for California-based Lyft nearly doubled from a year earlier to $776 million and the number of active riders grew to over 20.5 million. Lyft said its losses deepened as a result of $894 million in costs that included stock-based compensation and related tax expenses in connection with its initial public offering in late March. The deficit compared with a loss of $234.3 million in the same period of 2018. "The first quarter was a strong start to an important year, our first as a public company," said Logan Green, Lyft's co-founder and chief executive.
- North America > United States > California > Los Angeles County > Los Angeles (0.27)
- North America > United States > Arizona (0.07)
- Transportation > Passenger (1.00)
- Transportation > Ground > Road (1.00)