Revenues increased by 125 percent year-on-year to $ 765 million (16.4 billion crowns). However, the company still reported a net loss of $ 251.9 million (5.39 billion crowns). However, it is 43 percent lower than last year’s 437.1 million dollars (9.36 billion crowns).
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Lyft is thus beginning to recover from the high losses caused by the covid-19 pandemic. A year ago, it stopped the demand for the company’s services. Now, however, customers are returning in large numbers, the company said.
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“We had a great quarter,” said Logan Green co-founder. He added that the company managed to exceed the set goals in all respects. He expects to continue to make an operating profit. Originally, Lyft expected that it would not make an operating profit until the third quarter.
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In addition, it helped Lyft to significantly reduce costs during the crisis. Last year, he managed to reduce expenditures by about 2.5 billion dollars (53.56 billion crowns). Part of the austerity measures was also the reduction of stocks. The cost / sales ratio fell by almost half year-on-year in the second quarter.
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