Transportation
Lyft Posts Weak Sales, Disappointing Ride Totals; Shares Dip
Lyft signage on a vehicle as it exits the ride-sharing pickup at San Francisco International Airport in California.
Photographer: David Paul Morris/BloombergLyft Inc. reported revenue that fell short of Wall Street’s expectations in the second quarter, stoking concerns about its efforts to expand globally.
The company reported revenue of $1.59 billion in the three months ended June 30, slightly missing analysts’ expectations of $1.61 billion. While the number of rides completed on the platform hit an all-time high, they too fell short of projections.