Lyft is still losing a ton of money, but it claims profit is within reach

Illustration by Alex Castro / The Verge

Lyft misplaced $463.5 million within the third quarter of 2019, which was nearly twice the quantity that the corporate misplaced over the identical interval of time final yr. The ride-hailing firm introduced in almost a billion {dollars} in income — $955.6 million to be actual — which, in comparison with $585 million of income within the third quarter of 2018, represents a rise of 63 % yr over yr.

Lyft and its bigger rival Uber have been beneath stress from buyers to stem their monumental losses and present how they plan to realize profitability. Lyft CEO and co-founder Logan Green instructed an viewers on the WSJ Tech Live convention earlier this month that he expects the corporate to develop into worthwhile on an adjusted earnings foundation on the finish of 2021, a yr forward…

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