Lyft Shares Are On The Move: What You Need To Know
Portfolio Pulse from Vaishali Prayag
Lyft Inc. (NASDAQ:LYFT) shares are trading lower following the company's Q2 earnings report. Despite a 41% YoY revenue increase and an adjusted EPS beat, the stock fell due to a lighter-than-expected Q3 outlook. J.P. Morgan analysts provided mixed commentary, noting strong EBITDA but lower gross bookings guidance.
August 07, 2024 | 7:38 pm
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Lyft's Q2 earnings report showed a 41% YoY revenue increase and an adjusted EPS beat. However, the stock fell 15.4% due to a lighter-than-expected Q3 outlook, with gross bookings and adjusted EBITDA guidance below consensus estimates.
The significant drop in Lyft's stock price is primarily due to the company's lighter-than-expected Q3 outlook, which overshadowed the positive Q2 results. The mixed commentary from J.P. Morgan analysts further adds to investor uncertainty.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100