Lyft began the year mired in the same ditch it ended in last year.
FILE - A Lyft ride-hailing vehicle is parked near Empower Field at Mile High in Denver on April 30, 2020.
The San Francisco company on Thursday unveiled a January-March loss that was even larger than investors had feared, underscoring the daunting challenges facing its new CEO, David Risher,Lyft lost $187.6 million, or 50 cents per share, during the first quarter, slightly less than its loss a year ago but significantly more than the 10 cents per share anticipated by analysts surveyed by FactSet Research.
Lyft's stock price fell by more than 15% in extended trading after the numbers came out, deepening a downturn that has seen the San Francisco company's shares lose more than half of their value during the past year. The first-quarter performance represented a dramatic contrast to the numbers announced earlier this week by Uber, the ride-hailing leader.
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