Shares of Lyft, Inc. (LYFT) slipped over 16% on Wednesday morning after the company reported its second-quarter results.
LYFT is currently trading at $9.15, down $1.82 or 16.59%, on the Nasdaq. The stock opened its trading at $9.25 after closing Tuesday at $10.97. The stock has traded between $8.85 and $20.82 in the past 52-week period.
Revenues for the quarter rose to $1.44 billion from $1.02 billion last year. Net income for the quarter were $5.0 million or $0.01 per share, compared net loss of $114.3 million or $0.30 per share last year.
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