From Nasdaq: 2024-11-08 14:17:00

Lyft Inc. (LYFT) reported third-quarter 2024 earnings of 29 cents per share, beating estimates and improving year over year. Revenues of $1.52 billion also exceeded expectations and increased 31.5% year over year, with 24.4 million active riders. Gross bookings for the quarter were $4.10 billion, up 16% year over year.

Lyft’s adjusted EBITDA in Q3 was $107.3 million, up 16.6% from last year. The adjusted EBITDA margin was 2.6%, flat year over year. Cash and cash equivalents at the end of the quarter were $770.29 million, with long-term debt at $574.47 million.

For Q4 2024, Lyft expects gross bookings of $4.28-$4.35 billion, adjusted EBITDA of $100-$105 million, and an adjusted EBITDA margin of 2.3-2.4%. For the full year, rides growth in the mid-teens is anticipated, with gross bookings up almost 17% year over year.

Uber Technologies reported solid Q3 results, with earnings per share of $1.20 and revenues of $11.2 billion surpassing estimates. Alphabet’s Q3 earnings of $2.12 per share also beat estimates, with revenues of $88.3 billion increasing 15% year over year. Download the free report on profiting from infrastructure spending.



Read more at Nasdaq: LYFT Q3 Earnings & Revenues Beat Estimates, Gross Bookings Rise Y/Y