(Boursier.com) — Lyft plunged 30% last night after the stock market on Wall Street, following a disappointing financial publication. Rival Uber is making progress toward profitability, but its revenue forecast is particularly disappointing. VTC announced a net loss for the fourth quarter of $588.1 million, or $1.61 per share, against a deficit of $283.2 million a year earlier. The company attributed $201 million of this loss to stock-based compensation and related payroll costs. Adjusted net loss was $270.8 million, or 74 cents per share. Revenue reached $1.18 billion, compared to $969.9 million in the same quarter a year earlier. Analysts polled by FactSet had forecast adjusted earnings of 13 cents a share on revenue of $1.15 billion. Adjusted EBITDA still reached $126.7 million, more than the consensus $89 million.
The group expects a turnover of 975 million dollars in the first fiscal quarter, below the 1.09 billion dollars anticipated by Wall Street analysts. Lyft expects adjusted earnings before interest, taxes, depreciation and amortization of between $5 million and $15 million. During the presentation of the results, the management indicated that it had to reduce prices due to competition. Uber also lowered its prices in January after removing a fuel surcharge.
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