REUTERS: Lyft Inc on Tuesday forecast growth would slow after nearly doubling in the first quarter, sending shares of the ride services company lower, just days ahead of rival Uber's IPO.
"The question will be whether this is just conservatism, Uber starting to fight back, or the company hitting tougher comps," Cordwell added. Total costs and expenses rose more than 200per cent in the quarter as it stepped up its promotional activities to compete with rival Uber, although a contribution margin improvement to 49.6per cent from 35.4per cent pointed to greater efficiency.
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