Lyft Bookings and Ridership Soar, While Losses Shrink
The No. 2 U.S. ride-hailing provider has seized on Uber's recent troubles
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Lyft Inc.'s bookings and ridership surged in the first quarter, suggesting the company benefited from user defections and management turmoil at larger rival Uber Technologies Inc.
Lyft also told investors in fundraising documents obtained by Bloomberg that it was beating internal growth targets, an encouraging sign for the No. 2 U.S. ride-hailing company.