Lyft Inc. (NASDAQ:LYFT) posted mixed second-quarter results after Thursday’s closing bell. Here’s a look at the details inside the report.
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Lyft Q2 Details
Lyft reported quarterly earnings of 13 cents per share, which missed the consensus estimate of 15 cents, according to Benzinga Pro data.
Quarterly revenue came in at $1.84 billion, which beat the analyst consensus estimate of $1.81 billion and was up from $1.59 billion in the same period last year.
Gross Bookings of $5.5 billion were up 23% year-over-year.
Lyft reported the following second-quarter operational highlights:
- Record Active Rider was up 17% year over year to 30.5 million, the seventh consecutive quarter of double-digit growth
- Rides accelerated sequentially to record levels, up 12% year-over-year to 262 million.
- Approximately 30% of North American rideshare rides were linked to a partnership, an all-time high.
“The business delivered acceleration in the second quarter, with growth in Rides and Gross Bookings reaching record levels, alongside continued strong cash generation of over $1 billion for the trailing twelve months,” said CFO Erin Brewer.
“These results reflect the strength of our foundation and give us confidence in the road ahead,” Brewer added.
LYFT Stock Price Activity: According to data from Benzinga Pro, Lyft stock was up 1.23% to $16.50 in Thursday’s extended trading.
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