Q-Free reported revenue of US$25 million for the second quarter 2013, an increase of 29 per cent from the same quarter last year. Operating profit (EBIT) improved to a positive US$51,000 from an operating loss of US$3.8 million in the same period last year. Loss before tax was reduced to US$391,000 from a loss of US$3.9 in the second quarter 2012. The improved earnings mainly reflect changes in the revenue composition, with higher product and service and maintenance revenue.
Lyft is withdrawing its scooter operations from the US cities of Nashville, San Antonio, Atlanta, the Phoenix area, Dallas and Columbus.
A company spokesperson told TechCrunch “We’re choosing to focus on the markets where we can have the biggest impact. We’re continuing to invest in growing our bike and scooter business but will shift resources away from smaller markets and toward bigger opportunities.”
