By Katie Roof.
Lyft appears to have benefited from Uber’s tough year.
The U.S. rival has seen its revenue growth more than triple, according to a report from The Information. The media outlet viewed financial reports, which showed Lyft brought in $483 million in revenue in the first half of 2017, compared to about $150 million in the same time frame last year.
The company also greatly improved its margins, showing that losses narrowed from $283 million to $206 million. Lyft was losing about $4 per ride last year and now it’s losing $1.20.
Read more at TechCrunch.