(CercleFinance.com) – Lyft reported better-than-expected results on Tuesday evening but also forecasts deemed disappointing, which caused the specialist in transport vehicles with driver (VTC) to lose almost a third of its stock market value. New York Stock Exchange this Wednesday morning.
Uber’s competitor yesterday disclosed first-quarter revenue of $875.6 million, up 44% year-on-year, for a narrowed net loss of $196.9 million dollars versus -$427.3 million a year ago.
Analysts nevertheless evoke a “laborious” recovery compared to its great rival, whose turnover soared by 141% over the same period.
Lyft also announced that it expects growth to slow in the second quarter, to +27% year-on-year, which also explains why the stock is down more than 33% this morning on the Nasdaq.
Wedbush analysts deplore, for their part, a level of expenditure “worthy of a rock star of the 80s”.
In total, the group’s costs rose 5% to $1.07 billion in the past quarter, a rise which – according to Wedbush – does nothing to allay investor fears.
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