Lyft reveals big growth but no profits as it readies for IPO

The company released its financial details for the first time on Friday, giving

a

the public a glimpse into its performance before deciding whether to buy into

the ride-hailing phenomenon.

Lyft reported $2.2 billion in revenue last year—more than double its $1.1 billion in revenue in 2017. That continued a growth trajectory that saw revenue skyrocket more than 200 percent in 2017 compared with 2016, when the company brought in $343.3 million.

But Lyft is still losing money and its executives warned it may struggle to turn a profit, according to Friday's filing. The company lost $911.33 million last year, about $223 million more than in 2017.

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