Lyft posted adjusted net loss of $211.5 million, lower than its adjusted net loss of $228.4 million in the same period a year ago. Is adjusted loss per share was $9.02 compared to $11.40 per share in the year-ago quarter.
The ride-hailing company’s steep adjusted losses surprised investors. Nine analysts at Refinitiv estimated its losses to be around $0.63 to $4.73 per share.
Although its adjusted net loss was bigger than the expectations of analysts, it’s still an improvement year-over-year.
Financial outlook
For the second quarter, Lyft is expecting its total revenue to be in the range of $800 million to $810 million and its adjusted EBITDA loss to be between $270 million and $280 million.
For the full fiscal year 2019, the ride-sharing company is anticipating its total revenue to be $3.275 billion and $3.3 billion and its adjusted EBITDA loss to be between $1.15 billion and $1.175 billion.
LYFT shares dropped two percent to $59.34 each and declined further to $58.85 a piece after-hours around 6:22 p.m. in New York.
