Lyft Belt-Tightening Aids Second-Quarter Results

Lyft mentioned belt tightening amid rising inflation and slowing financial progress helped ship a stronger-than-expected adjusted working outcome.

The ride-hailing firm on Thursday posted an adjusted working revenue for the second quarter, which strips out some gadgets, of $79.1 million, effectively forward of its personal projection three months in the past and Wall Avenue’s forecasts. Lyft nonetheless posted a wider web loss at $377.2 million in contrast with the yr prior.