Lyft Stock Races Higher After Q4 Results
Portfolio Pulse from Erica Kollmann
Lyft, Inc. (NASDAQ:LYFT) reported Q4 sales of $1.22 billion, meeting analyst estimates and marking a 4.22% increase year-over-year. Q4 gross bookings rose 17% to $3.7 billion, with full-year revenue up 8% to $4.4 billion. The number of rides increased 26% year-over-year. CFO Erin Brewer highlighted strong foundations for profitable growth and the company's focus on operational excellence for 2024. Lyft anticipates Q1 gross bookings between $3.5 billion and $3.6 billion. Lyft shares surged nearly 24% in after-hours trading to $15.00.
February 13, 2024 | 9:28 pm
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Lyft's Q4 report shows strong performance with sales of $1.22 billion and a 17% increase in gross bookings. Shares jumped nearly 24% after-hours.
Lyft's Q4 earnings report exceeded expectations with significant year-over-year growth in sales, gross bookings, and the number of rides. The positive outlook for 2024 and the anticipated increase in gross bookings for Q1 suggest strong future performance. This has led to a substantial after-hours stock price increase, indicating investor confidence and a positive short-term impact on the stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100