Lyft Inc.
- Lyft jumped 26% to $18.23 after the company reported its quarterly results and issued a stronger than-expected outlook.
Revenue in the third quarter increased to $1.5 billion from $1.15 billion, net loss expanded to $12.5 billion from $12.1 billion, and diluted earnings per share were unchanged at 3 cents per share.
Gross booking rose 16% to $4.1 billion from $3.55 billion, and active riders increased to 24.4 million from 22.4 million a year ago, respectively.
The ride-hailing company is now forecasting fourth quarter bookings of $4.28 billion and $4.32 billion, an increase between 15% and 17% from a year ago. The company also estimated adjusted operating earnings between $100 and $105 million in the next quarter.
For the full-year 2024, the company estimated annual booking growth of 17% and annual number of rides growth in the mid-teens.
Nov 7, 2024
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