Lyft co-founder and CEO Logan Green image: JD Lasica on Flickr

As a now public company, Lyft is required to publicly release its financial results for every quarter, and just recently did that. The San Francisco-based ride-hailing company has unveiled its Q2 2019 results, showing strong quarterly earnings but still with losses. Lyft’s revenue for the quarter was $867 million, up 72% from $505 million in the same period last year. According to Refinitiv, analysts [on average] expected $809 million in revenue for the quarter.

In the same period [Q2], Lyft recorded $644 million in losses. A significant part of the loss ($296.6 million) stemmed from employee stock-based compensation. The high loss is up from $179 million in Q2 last year.

Lyft has raised its full-year revenue projection to between $3.47 billion and $3.5 billion, up from $3.275 billion to $3.3 billion. The ride-hailing company predicts an annual growth rate of between 61% and 62%, up from 52% and 53%. For the third quarter of this year, Lyft is projecting revenue of between $900 million and $915 million.

Lyft now has 21.8 million active riders [up from 15.5 million in Q2 2018], and made roughly $40 in revenue per rider, up from $33 in Q2 2018.

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