Lyft’s finances improved in the first half of 2017, new documents show, as the company lost less money on revenue estimated to be 200% higher than the year-earlier period. Lyft’s improvement came as U.S. ride-hailing leader Uber experienced scandal after scandal, which shifted some riders to Lyft.
Lyft brought in $483 million in revenue in the first half of the year, more than all of last year, according to recent company financial statements viewed by The Information. Revenue in the first half of last year is estimated to be around $150 million, although accounting changes make a straight comparison difficult. Lyft’s net loss fell to $206 million from $283 million, the financial statements show.