INSIDER
Lyft loses money again but eyes profits in about 2 years
Read full article: Lyft loses money again but eyes profits in about 2 yearsBut San Francisco company lost $463.5 million in the quarter compared with a $249.2 million loss a year ago. "More people are paying full price for rides," Roberts said in an interview with The Associated Press. "We are very focused on profitable growth, not growth at all costs," Roberts said. Lyft's quarterly losses included $86.6 million in insurance costs to cover potential liability for past claims. To reduce the frequency of car accidents and related insurance costs, Lyft is increasing its investment in systems for monitoring risky driving behavior such as speeding and hard breaking, Roberts said.