Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
As the Street seemed to anticipate, Lyft Inc (NASDAQ:LYFT)’s first quarter — and its first reporting period as a public company — fell short of bottom-line expectations. A $9.02 loss per share underperformed forecasts for a loss of $3.77.
Meanwhile, revenue of $776.027 million beat a $739.48-million estimate, and this quarter’s loss in earnings before interest, tax, depreciation and amortization ($216 million) improved from the loss of the comparable quarter last year ($238.7 million).
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Lyft’s report also revealed:
- 46-percent annual growth in active riders and 34-percent growth in revenue per active rider;
- Year-over-year revenue growth of 95 percent; and
- $3.5 billion in adjusted cash.
Management guided for second-quarter sales between $800 million and $810 million with an EBITDA loss between $270 million and $280 million. It sees full-year sales between $3.275 billion and $3.3 billion with EBITDA loss between $1.175 billion and $1.15 billion.
Lyft's stock spiked more than 7 percent immediately following the release. At time of publication, Lyft was down 3 percent in after-hours trading. The stock closed at 59.34 per share, down 2 percent..
Lyft’s earnings precede the Friday IPO of mobility competitor, Uber.
Related Links:
Lyft Options Trader Makes Bullish Bet Ahead Of Earnings
Wedbush Initiates Uber At Outperform, Calls It The 'Amazon Of Transportation'
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.