Breaking News
Feb 14, 2024
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Lyft Inc. soared 20% to $14.56 after the ridesharing company reported fourth-quarter results.
Revenue in the quarter increased to $1.22 billion from $1.18 billion, and net losses shrank to $26.3 million from $588.1 million.
Gross bookings on the platform rose to $3.7 billion from $3.2 billion. Active riders increased 10% to 22.4 million from 20.4 million, and rides surged to 190.8 million from 151.1 million a year ago.
The company estimated gross booking in the first quarter between $3.5 billion and $3.6 billion and adjusted operating earnings between $50 million and $55 million.
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