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Lyft sees Q1 revenue plunge

Lyft has reported Q1 revenue of $609.0 million versus $955.7 million in the first quarter of 2020, a decrease of 36 percent year-over-year, but an increase of 7 percent from $569.9 million in the fourth quarter of 2020. Ride-hail firms are emerging as big losers under the Covid-19 pandemic which has dramatically reduced city centre ‘last mile’ journeys and made travelling in shared vehicles less attractive to many.