Japan's Rakuten Q1 profit jumps fourfold after $1b gain from Lyft IPO

Japan's Rakuten Q1 profit jumps fourfold after $1b gain from Lyft IPO

Confetti falls as John Zimmer, co-founder and president of Lyft, center left, and Logan Green, co-founder and CEO of Lyft, center right, ring the opening bell during the company's IPO at Lyft's new service center in Los Angeles on March 29, 2019. Photographer: Kyle Grillot/Bloomberg

Japanese e-commerce firm Rakuten Inc‘s first-quarter operating profit jumped fourfold as it booked a $1 billion gain on its stake in U.S. ride-hailing company Lyft Inc.

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