Lyft Q1 Yoybursztynskycnbc 609m Qoq Yoy
Lyft Q1 YOYBursztynskyCNBC 609M QoQ YOY: A Deep Dive, At the end of the first quarter of 2020, Lyft reported YOY (Year-over-Year) growth at 609 million USD in revenue, an impressive 72% increase from the previous year. According to a report from CNBC’s Jim Bursztynsky, this growth was largely expected due to Lyft’s ride-hailing segment, which accounts for 90% of its revenue. On top of this, the company reported a 26% increase in QoQ (Quarter-over-Quarter) growth due to its retained non-ride-hailing services.
The Ride-Hailing Segment
The strong backbone of Lyft's revenue growth lies in its ride-hailing segment, with the total number of rides rising 18% YOY to 392 million. This is reportedly due to a 20% growth in active riders and a 14% increase in rides per active rider. This suggests th...