From Nasdaq: 2024-07-31 11:49:00

Lyft will report its second-quarter 2024 results on August 7. With a history of beating estimates by an average of 472.25%, the company’s earnings estimate for this quarter is 19 cents per share, revised 5.6% higher in the past 60 days. Expectations are for revenue to rise by 35.8% year-over-year to $1.39 billion.

Analysts predict an increase of 26.7% in earnings per share for Lyft’s second quarter compared to the same period in 2023. Revenues are projected to reach $1.39 billion, showing a 35.8% jump from last year. The company’s performance is expected to be driven by a rebound in the ride-share market and increased active riders.

Despite positive past performance, Lyft may not beat estimates this quarter according to the Earnings ESP model. With an Earnings ESP of 0.00% and a Zacks Rank #3, the odds of an earnings beat are not in favor for Lyft. In the first quarter of 2024, Lyft saw a 27.6% increase in revenue year-over-year, reaching $1.28 billion, with 21.9 million active riders, a 12% increase from the previous year.

In Q2, Alphabet reported earnings of $1.89 per share, a 31.3% increase year-over-year, and revenues of $84.74 billion, up 14% from the previous year. Amphenol also exceeded expectations with earnings of 43 cents per share, a 19.4% increase from the previous year, and net sales of $3.61 billion, up 18.2%. Overall, Lyft’s upcoming earnings release is highly anticipated in comparison to its competitors.



Read more at Nasdaq: LYFT Gears Up to Report Q2 Earnings: What’s in the Cards?