But Lyft is losing gobs of money -- and it's unlikely to turn a profit any time soon. Lyft won't generate a meaningful profit until 2023, the report predicted. Lyft is losing about $11.50 for every $100 of customer billings, twice the rate of losses at Uber, according to Renaissance Capital. "We have a history of net losses," Lyft warned in its IPO filing , "and we may not be able to achieve or maintain profitability in the future." Colas compared buying Lyft today with owning stock in a railroad company in the 1880s, when they were losing money from building thousands of miles of rail.

Source: CNN March 19, 2019 17:29 UTC