Lyft lost $135.7 million in the third quarter due to the shutdown of Argo AI, in which Lyft had a small stake. Argo’s main backers, Ford and Volkswagen, pulled their investments in the company in order to focus on driver assistance systems in passenger vehicles. Lyft expects to cut its operating expenses by roughly $20 million in Q4 versus Q3. The company’s revenue per active rider beat expectations of $49.94 at $51.88. Lyft’s stock, which had started to climb after Uber reported strong earnings last week, fell 14.36% Monday in after-hours trading. Lyft’s shares have slid 69.29% since the start of the year to the end of the quarter. . . .
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