From Financial Modeling Prep.: 2024-11-07 07:41:00

Lyft (NASDAQ:LYFT) stock surged by over 22% in pre-market trading after the company raised its full-year outlook and reported strong third-quarter revenue. Despite posting a loss of $0.03 per share, Lyft’s revenue of $1.52 billion exceeded expectations, driven by record ride-sharing activity and a 9% increase in active riders to 24.4 million.

In the fourth quarter, Lyft projects adjusted EBITDA of $100 million to $105 million, with a margin of 2.3% to 2.4%. The company also revised its full-year 2024 guidance upwards, now expecting an adjusted EBITDA margin of 2.3% and gross bookings growth of around 17% year-over-year.



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