Lyft gained from Uber’s scandals, sees revenue triple

Lyft now let's riders earn Delta SkyMiles
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.

Be first to comment