Lyft said that rides on the service increased 26% in May 2020 compared to April 2020, a month that saw few state reopenings.The company added that it expects its Adjusted EBITDA loss for the second quarter to exceed $325 million if average daily rideshare ride volume in June stays similar to May 2020.
A driver adjusts his face mask as Uber and Lyft drivers with Rideshare Drivers United and the Transport Workers Union of America conduct a ‘caravan protest’ outside the California Labor Commissioner’s office amidst the coronavirus pandemic on April 16, 2020 in Los Angeles, California.
The company said that rides on the platform increased 26% in May 2020 compared to April 2020, a month that saw few state reopenings. Still,said rides are down about 70% compared to a year ago. Lyft's data is one of the first looks a company has given investors on how well businesses are doing as states start to reopen.
The company added that it doesn't expect its adjusted EBITDA loss for its second quarter to exceed $325 million if average rideshare volume in June stays similar to May 2020 levels. Previously, the company said that loss would not exceed $360 million.
Rides to the hospital
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