Categories AlphaGraphs, Earnings, Industrials

Earnings: Highlights of Lyft’s (LYFT) Q3 2022 financial results

Taxi booking platform Lyft, Inc. (NASDAQ: LYFT) has announced operating results for the third quarter of 2022, reporting a sharp increase in adjusted profit aided by double-digit revenue growth amid continued recovery in ride-hailing.

The company, headquartered in San Francisco, reported an adjusted profit of $36.7 million for the three months that ended September 2022, compared to $17.8 million in the same period last year. On an unadjusted basis, it was a net loss of $422.2 million or $1.18 per share, compared to a loss of $99.7 million or $0.30 per share in the prior-year period.

At $1.05 billion, revenues were up 22% year-over-year. Third-quarter adjusted EBITDA edged down to $66.2 million from $67.3 million in the corresponding period of 2021. At the end of the quarter, the company had around 20.3 million active riders, and revenue per user rose 14% to $51.88.

Read LYFT’s Q3 2022 Earnings Call Transcript

“I’m extremely proud of the strong results the team delivered in Q3. We are seeing material progress and organic tailwinds and feel very well-positioned for the road ahead. We have taken decisive steps to ensure we can deliver profitable growth, and we are even more confident in our ability to achieve our 2024 financial targets,” said Logan Green, chief executive officer of Lyft.

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

CrowdStrike: Why this cybersecurity stock is a good investment for 2023

CrowdStrike Holdings, Inc. (NASDAQ: CRWD) has steadily expanded its subscriber base over the years, riding the ever-growing demand for cybersecurity solutions. As digital adoption continues -- which accelerated after the

CRM Results: Salesforce Q3 earnings beat; revenues rise 14%

Customer relationship management platform Salesforce, Inc. (NYSE: CRM) on Wednesday reported an increase in third-quarter adjusted earnings, aided by double-digit growth in revenues. The numbers surpassed analysts' predictions. Third-quarter profit,

Hormel Foods (HRL) provides downbeat outlook as it expects volatile and high-cost environment in FY2023

Shares of Hormel Foods Corporation (NYSE: HRL) were down over 4% on Wednesday after the company delivered mixed results for the fourth quarter of 2022 and provided a bleak outlook

Add Comment
Viewing Highlight