Lyft Q2 Earnings Highlights: Revenue Beat, EPS Beat, Q3 Guidance, Rides Up 18% YoY And More
Mobility company Lyft Inc (NASDAQ: LYFT) reported second-quarter financial results after the market close Tuesday. Here are the key highlights.
What Happened: Lyft reported second-quarter revenue of $1.02 billion, which was up 3% year-over-year. Ther revenue figure came in line with a Street consensus estimate, according to data from Benzinga Pro.
The company reported earnings per share of 16 cents in the second quarter, which beat a Street consensus estimate of a loss of 1 cent per share.
Lyft reported 21.5 million active riders in the second quarter, which was up 8.2% year-over-year. Rideshare rides for the company were up 18% year-over-year in the second quarter.
"Our customer obsession is paying off for riders, drivers, and our business," Lyft CEO David Risher said.
"Between summer travel and return-to-office commuting, folks are getting out more every day and loving the Lyft rideshare experience. Standard rides have reached their second-highest level ever. Our advice: download Lyft now and give us a try. We think you'll like what you see."
Related Link: Trading Strategies For Lyft Stock After Q2 Earnings
What’s Next: Lyft is guiding for third-quarter revenue in a range of $1.13 billion to $1.15 billion.
The company sees third-quarter adjusted EBITDA coming in a range of $75 million to $85 million for the third quarter.
"The rideshare market is growing. We had a solid second quarter and we have strong ride momentum going into Q3 and the back half of the year," LYFT Chief Financial Officer Erin Brewer said.
"The team is unified and focused on delivering great experiences for drivers and riders. We've got lots more to do to build on our progress."
LYFT Price Action: Lyft shares are down 2.34% to $11.29 in after-hours trading Tuesday versus a 52-week trading range of $7.85 to $21.51.
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