for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Earnings

Lyft cuts losses as revenue surges: the Information

An illuminated sign appears in a Lyft ride-hailing car in Los Angeles, California, U.S. September 21, 2017. REUTERS/Chris Helgren

(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 declined to comment.

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

Revenue for the year-ago period is estimated to be around $150 million, although comparison is difficult because of accounting changes, the website said.

Lyft’s biggest rival is industry leader, Uber Technologies Inc, whose third-quarter losses widened as it wades through legal troubles and faces regulatory scrutiny across the globe, a source said on Tuesday.

Reporting by Arjun Panchadar and Akshara P in Bengaluru; Editing by Anil D’Silva and Richard Chang

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up