Lyft, Inc. (NASDAQ:LYFT) stock climbed after the company released its third-quarter earnings report after Wednesday's closing bell, beating EPS estimates.
Here's a look at the details in the report.
- LYFT stock is moving. See the real-time price action here.
The Details: Lyft reported quarterly earnings of 11 cents per share, which beat the consensus estimate of seven cents.
Quarterly revenue came in at $1.68 billion, which missed the analyst consensus estimate of $1.69 billion.
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Lyft reported the following Q3 highlights:
- Record Gross Bookings of $4.8 billion, up 16% year-over-year.
- Rides growth accelerated to 15% year-over-year to 248.8 million.
- Active Riders growth accelerated to 18% year-over-year to 28.7 million.
“Our Q3 results prove that Lyft’s comeback strategy is working,” said CEO David Risher.
“We once again smashed records, announced more autonomous vehicle partnerships, and last month, acquired a world-class luxury chauffeuring company, furthering our customer-obsessed approach to growth. We have multiple catalysts converging to drive momentum and scale across the business,” Risher added.
LYFT Stock Price: According to data from Benzinga Pro, Lyft stock was up 2.60% at $20.60 in Wednesday's extended trading.
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