Lyft's Bottomline Takes A Hit In Q3, Stock Slides
Portfolio Pulse from Ryan Gustafson
Lyft reported Q3 losses of three cents per share, significantly below the analyst consensus estimate of 13 cents, marking a 130% decrease from the same period last year. However, the company beat sales estimates with $1.16 billion, a 9.82% increase YoY. Gross Bookings were up 15% YoY, and the company reported 187 million rides, a 20% growth YoY. For Q4, Lyft expects Gross Bookings of $3.6 billion to $3.7 billion and Adjusted EBITDA of $50 million to $60 million. The company's stock fell 4.38% in after-hours trading.
November 08, 2023 | 9:39 pm
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Lyft's Q3 earnings report showed a significant decrease in earnings per share, but an increase in sales. The company's stock fell 4.38% in after-hours trading.
Lyft's Q3 earnings report showed a significant decrease in earnings per share, which is a key indicator of a company's profitability. This negative news likely contributed to the drop in the company's stock price in after-hours trading. However, the company did beat sales estimates, which could potentially offset some of the negative impact on the stock price in the short term.
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