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
Earnings Preview: What to look for when Netflix (NFLX) reports Q4 2025 results
Netflix, Inc. (NASDAQ: NFLX) is expected to report Q4 results on January 20, amid expectations for strong revenue and earnings growth. The company is navigating a shifting streaming landscape where
What to look for when United Airlines (UAL) reports its Q4 2025 earnings results
Shares of United Airlines (NASDAQ: UAL) stayed red on Thursday. The stock has gained 15% over the past three months. The airline is scheduled to report its earnings results for
Infographic: How Constellation Brands (STZ) performed in Q3 2026
Constellation Brands, Inc. (NYSE: STZ) reported net sales of $2.22 billion for the third quarter of 2026, down 10% year-over-year. Organic net sales were down 2%. Net income attributable to
