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Lyft loses 1,138 million in its first results after the IPO

San Francisco, .- The vehicle rental company with driver Lyft today announced losses of 1,138 million dollars in the first three months of the year, almost five times greater than those suffered in the same period of 2018, in which were their first public accounts after its exit to the stock market.

The firm of San Francisco (California) entered between January and March 776 million dollars, almost double the 397 billed in the first three months of 2018, but its expenses tripled, which explains the large increase in losses.

During this same time, Lyft investors lost $ 48.53 per share, compared to 11.69 a year ago.

These figures, however, should be contextualized in the particular quarter that the company has experienced with its flotation on March 29, since a substantial part of the expenses are linked precisely to that operation.

Thus, of the 1,138 million lost between January and March, 859 correspond to shareholder compensation -specific element of the exit to the stock market-, so that the company estimated its “adjusted” losses at 211.5 million, slightly below the adjusted losses of 234.3 million last year.

According to these accounting criteria, losses adjusted by title would also fall to $ 9.02.

The Californian company has gained 46% of passengers during the last year to reach 20.5 million active users, while it has increased the average revenue per passenger by 34%, from $ 28.27 to 37 86

“The first quarter was a strong start to an important year, our first on the stock market.Transport is one of the largest segments of our economy and we are still in a very early stage of the enormous change that the transfer of the car as property to transportation will mean. service “, said the CEO of the company, Logan Green.

Since its debut in the New York stock market in March, the Lyft price has behaved irregularly with steep increases and decreases.

The great rival of Lyft and authentic dominator of the transport on demand at world-wide level, Uber, will go out this Friday to the New York Stock Exchange with an operation in which it pretends to value in 100.000 million dollars.

The first public results of Lyft did not convince the investors in Wall Street and the shares of the company were left a 1.67% until the 58.35 dollars by title in the electronic operations after the closing of the parquet. (EFEUSA)

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