LYFT IncLYFT
▲ PositiveDemandCapitalrelevance
Record gross bookings and revenue beat, driven by World Cup and airport demand.
Impact on stocks 1
Industrials
LYFT IncLyft Posts Record Gross Bookings in Q2, Net Profit Misses Estimates
Earnings
US ride-hailing giant Lyft reported second-quarter results, with gross bookings surging 23 percent to a record 5.5 billion dollars. Revenue rose 16 percent to 1.84 billion dollars, beating market expectations, but net profit came in at just 50.3 million dollars, falling short of the roughly 56 million dollars forecast by LSEG. A 68 percent spike in marketing expenses weighed on profits. Demand was boosted by increased airport pickups and rides in host cities tied to the FIFA World Cup. Lyft's third-quarter gross bookings outlook ranges from 5.5 billion to 5.67 billion dollars, compared with a market estimate of 5.57 billion dollars.
LYFT IncRecord gross bookings and revenue beat, driven by World Cup and airport demand.