Lyft’s 2Q loss $437M as virus spread and riders stayed home
NEW YORK (AP) — Lyft has posted a loss of $437 million for the second quarter, when the coronavirus outbreak meant few people were looking to use its ride-hailing service. The San Francisco-based company’s revenue slumped to $339.3 million in the April to June quarter, down 61% from the same period last year. The number of active riders declined 60% as people shied away from traveling in shared vehicles. CEO Logan Green says while rides were down significantly compared to last year, he’s encouraged that they have picked up in July.