Lemonade stock pops after earnings as insurance company plans to slow spending growth

Lemonade stock pops after earnings as insurance company plans to slow spending growth
·1 min read

Shares of Lemonade Inc. were up more than 8% in after-hours trading Monday after the company, which provides renters' insurance, car insurance, and more, posted a narrower loss than expected and signaled that it was slowing spending growth. The company generated a net loss of $67.9 million, or $1.10 a share, compared with a loss of $55.6 million, or 90 cents a share, in the year-before quarter. Analysts tracked by FactSet were expecting a $1.33 GAAP loss per share. Revenue increased to $50.0 mil