San Francisco based Ride-Hailing platform Lyft (NASDAQ: LYFT) reported Q4 results that overall beat analyst expectations but the guidance of more big losses in 2020 likely spooked the market. Lyft’s prediction of a profit in the fourth quarter of 2021 is a year behind rival Uber.
The shares were down about 5% after trading hours demonstrating investors were not happy with the slowing growth and an expectation of continued big losses in 2020. Revenue came in at $1.02 billion, 3% better than consensus of $984 million and management guidance of $980 million.
At the same time, UBER was up more than 5% on Feb-06 after it reported a fourth-quarter loss even that was not as large as analysts had expected. Uber and Lyft currently look very similar. Longer-term the only big difference will be in the growth rates and profit margins. But the other big difference UBER operates in more markets around the world. Although it has clashed with regulators in London and Germany and struggled in some Asian markets. Lyft focuses only on North America.