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

Lyft lost $463.5 million in the third quarter of 2019, which was almost twice the amount that the company lost over the same period of time last year. The ride-hailing company brought in nearly a billion dollars in revenue — $955.6 million to be exact — which, compared to $585 million of revenue in the third quarter of 2018, represents an increase of 63 percent year over year.

Lyft and its larger rival Uber have been under pressure from investors to stem their enormous losses and show how they plan to achieve profitability. Lyft CEO and co-founder Logan Green told an audience at the WSJ Tech Live conference earlier this month that he expects the company to become profitable on an adjusted earnings basis at the end of 2021, a year ahead...

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