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Benzinga

Business

Adam Eckert

MYSTERIOUS: Why lyft shares are slamming the brakes today - What They Never Told You

Lyft Inc (NASDAQ:LYFT) shares are trading lower Wednesday after the company reported financial results and issued guidance below analyst estimates.

Lyft said first-quarter revenue increased 44% year-over-year to $875.6 million, which beat the $846 million estimate. The company reported a net loss of $196.9 million, which was improved from a net loss of $427.3 million in the prior year quarter.

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