Lyft Says Had Q3 Gross Bookings Of $3.554B Was Up 15% YoY; Rides Grew 20% YoY; Active Riders Grew 10% YoY
Portfolio Pulse from Benzinga Newsdesk
Lyft reported Q3 2023 financial results with gross bookings of $3.554 billion, up 15% YoY. Revenue was $1.158 billion, up 10% YoY, and net loss was $12.1 million, a significant decrease from $422.2 million in Q3'22. Operational highlights include a 20% YoY growth in rides and a 10% YoY increase in active riders. The company also launched in-app advertising in Q3.
November 08, 2023 | 9:11 pm
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POSITIVE IMPACT
Lyft's Q3 2023 results show significant improvements in gross bookings, revenue, and net loss. The growth in rides and active riders indicates a positive trend in user engagement. The launch of in-app advertising could provide an additional revenue stream.
Lyft's Q3 2023 results show significant improvements in key financial metrics, indicating a positive trend in the company's performance. The growth in rides and active riders suggests increased user engagement, which is a positive sign for future growth. The launch of in-app advertising could provide an additional revenue stream, further boosting the company's financial performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100