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
Charles Schwab Corp. (SCHW) Q3 earnings beat estimates amid 87% revenue growth
Financial services company The Charles Schwab Corporation (NYSE: SCHW) on Friday reported strong revenue and earnings growth for the third quarter. The numbers also beat Wall Street's forecast. Third-quarter revenues
GS Earnings: All you need to know about Goldman Sachs’ Q3 2021 earnings results
The Goldman Sachs Group, Inc. (NYSE: GS) reported third quarter 2021 earnings results today. Revenues increased 26% year-over-year to $13.61 billion. Net earnings applicable to common shareholders increased 63% YoY
PNC Financial Services (PNC) Q3 Earnings: Key financials and quarterly highlights
The PNC Financial Services Group, Inc. (NYSE: PNC) reported third-quarter 2021 earnings results today. Revenues were up 21% year-over-year to $5.1 billion compared to the previous year. Net income attributable
