Lyft secured $483M in revenue in 1H

Application Software | San Francisco, CA

Financial documents have revealed that Lyft brought in $483 million in 1H revenue, up significantly from the $150 million it secured during 1H 2016, per The Information. The company's net loss dropped from $283 million to $206 million in the same timeframe. Earlier this week, Uber revealed close to $1.5 billion in 3Q 2017, up more than 35% from its nearly $1.1 billion 2Q loss, per reports. Lyft's revenue gains aren't expected to continue in 2H, though, as it has upped spending on advertising amid Uber's serial scandals.

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