U.S. ride-sharing firm Lyft reports 52-pct growth in Q4 revenue

Source: Xinhua| 2020-02-12 10:56:23|Editor: Yurou
Video PlayerClose

SAN FRANCISCO, Feb. 11 (Xinhua) -- U.S. leading ride-hailing company Lyft Inc. said Tuesday its sales revenue reached some 1.02 billion U.S. dollars in the fourth quarter (Q4) of 2019, up 52 percent year-on-year, as the number of active riders continued to grow.

The revenue beat market estimate of about 984 million dollars, compared with 669.5 million dollars in the same quarter of 2018.

For the full fiscal 2019, Lyft registered 3.6 billion dollars in sales revenue, up 68 percent year-on-year.

The San Francisco-based company said its adjusted EBITDA loss (net loss before interest, tax, depreciation and amortization) for fiscal 2019 narrowed to 678.9 million dollars from 943.5 millions dollars in 2018, while its Q4 net loss increased to 356 million dollars from 248.9 million dollars in 2018.

According to Lyft, the number of its active riders grew 23 percent year-on-year to reach 22.9 million in Q4.

The company forecast its revenue to be in the range between 1.055 billion dollars and 1.06 billion dollars in the first quarter of 2020, with annual sales rising to 4.65 billion dollars in fiscal 2020.