Rakuten Q1 numbers boosted by Lyft acquisition

Source: Rakuten, Wednesday, May 15, 2019

Japanese ecommerce giant Rakuten saw Q1 profit surge after its acquisition of US ride-hailing business Lyft. Profit for the quarter ended 31 March reached JPY113.7 billion from the prior-year figure of JPY28.1 billion. Minus the influence of the Lyft takeover, profit would have been only JPY3.2 billion.

Revenue reached JPY280.30 billion (USD2.6 billion), a 15.9% y-o-y increase, with operating income up 304.5% to JPY113.66 billion (USD1 billion). Net income surged 502.6% to JPY87.56 billion (USD0.8 billion). Internet Services revenues rose 13.8% to reach JPY20.66 billion (USD0.2 billion).