Lyft shares rally 14% after it reports Q1 revenue growth of 23% to $955.7M – TechCrunch

Fresh off of a large round of layoffs, Lyft reported its Q1 results this afternoon.
The ride-hailing company disclosed that it generated revenue of $955.7 million in the first three months of 2020, up 23% from its year-ago Q1 revenue result of $776 million.
On an adjusted basis, Lyft lost $97.4 million, and its adjusted EBITDA result was a slightly better -$85.2 million.
Indeed, Lyft reported 3% more “active riders” in Q1 2020 than it saw in Q1 2019; revenue per active rider rose 19% YoY in the quarter.
After Q1 2020 Lyft remained well-capitalized, with $2.7 billion of unrestricted cash, according to its release, compared to Q1 operating cash burn of around $207 million.

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