Lyft reports large losses in post-IPO earnings, but predicts 2019 will be ‘peak loss year’

Lyft Inc. reported better sales than expected in its first quarterly earnings report as a public company Tuesday, but also disclosed massive losses that weighed on the stock until executives said on a conference call that they do see a path to profitability.

Lyft LYFT, -2.03%went public in March at $72 a share and moved higher in its first day of trading, but began falling in the next session and has not closed higher than its initial public offering price since April 5, as rival Uber Technologies Inc. UBER, +0.00%preps its own IPO that is expected to price this week.

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