Investing.com - Ride sharing company Lyft (NASDAQ:LYFT) reported a wider-than-expected quarterly loss in its first report as a public company, but revenue exceeded forecasts.
Lyft shares fell more than 3% after hours.
Lyft reported a first-quarter non-GAAP loss of $9.02 per share. That was much wider than the consensus estimate of $3.33 per share compiled by Investing.com.
Revenue came in at $776 million, topping expectations of $740.2 million.
Active riders rose 46% from the year-ago period to 20.5 million. Revenue per active rider rose 34% year over year to $37.86.
Looking ahead, Lyft predicts second-quarter revenue of $800 million to $810 million, higher than the S&P Capital IQ Consensus of about $782 million.
The stock has struggled since its debut. With Tuesday's close of $59.34, the stock was 17.6% below its IPO price of $72. If the after-hours decline holds, the loss will widen to 20%.