Lyft Stock Drops After Q2 Results: Here's Why

Lyft, Inc. (NASDAQ:LYFT) released its second-quarter results after Wednesday's closing bell. Here's a look at the details from the report. 

• Check out LYFT stock price and chart in real-time here. 

The Details: Lyft reported quarterly earnings of 10 cents per share, which beat the analyst consensus estimate of four cents, according to data from Benzinga Pro.

Quarterly revenue came in at $1.58 billion, which missed the Street estimate of $1.61 billion.

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For the second quarter, Lyft reported:

• Record Gross Bookings of $4.5 billion, up 12% year-over-year.
• Revenue of $1.6 billion, up 11% year-over-year.
• Net income of $40.3 million compared to $5 million in Q2’24.
• Net income as a percentage of Gross Bookings was 0.9% compared to 0.1% in Q2’24.
• Record Adjusted EBITDA of $129.4 million up 26% year-over-year compared to $102.9 million in Q2’24.

“We delivered off-the-charts performance, resulting in our strongest quarter ever,” said Lyft CEO David Risher.

“Our marketplace is thriving, our TAM is expanding with the close of Freenow, and we are building meaningful partnerships, including with Baidu and United Airlines. We’re proving that Lyft isn’t just another rideshare option — it’s the better choice,” Risher added.

Outlook: For the third quarter, Lyft expects rides growth in the mid-teens year-over-year and gross bookings of approximately $4.65 billion to $4.8 billion.

LYFT Stock Price: According to data from Benzinga Pro, Lyft stock was down 7.76% at $12.95 in Wednesday's extended trading. 

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