Lyft Inc (NASDAQ: LYFT) reported second-quarter financial results after the closing bell on Wednesday. The ride-hailing company reported a 61% dip in Q2 revenues to $339.3 million, narrowly beating Wall Street consensus. Adjusted net loss of $0.86 per share was 13 cents narrower than what analysts had anticipated.
LYFT shares rose 2.1% immediately following the announcement. The stock has declined 30% so far this year.
CEO Logan Green said, “While rideshare rides in the quarter were down significantly year-over-year, we are encouraged by the recovery trends we are beginning to see, with monthly rideshare rides in July up 78% compared to April.”
Lyft ended quarter with $2.8 billion of unrestricted cash, cash equivalents and short-term investments.
Last week, rival Uber Technologies reported mixed second-quarter results, sending the stock down 5%.
Peer Performance
Most Popular
Intensity Therapeutics is establishing a new field of localized cancer reduction: CEO
Intensity Therapeutics, Inc. (NASDAQ: INTS) is a clinical biotechnology company engaged in the discovery development, and commercialization of first-in-class cancer drugs that attenuate tumors with minimal side effects while training
INTU Earnings: Intuit Q1 2025 adj. profit rises on higher revenues
Financial technology company Intuit Inc. (NASDAQ: INTU) Thursday announced results for the first quarter of 2025, reporting a modest increase in adjusted earnings. The Mountain View-headquartered company’s first-quarter revenue came
Riding the AI wave, Nvidia looks set to stay on the high-growth path
After delivering strong results for the third quarter, Nvidia Corporation (NASDAQ: NVDA) this week said the launch of its new-generation Blackwell chip is on track. The company is thriving on
