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Company News

Lyft rides rise 7.3% in August from prior month

Sept 8 (Reuters) - Ride-hailing firm Lyft Inc said on Tuesday rides on its platform rose 7.3% in August from the previous month as operations in Canada recovered faster than in the United States.

However, compared to a year earlier, rides were down 53% in August.

The company used fewer driver incentives in the month as more drivers returned to the platform and said it expects lower incentive spending in the third quarter.

Lyft expects adjusted loss for the third quarter to not exceed $265 million. (Reporting by Sanjana Shivdas in Bengaluru; Editing by Arun Koyyur)

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