Lyft (LYFT) Tops Q2 EPS by 90c; Raises Outlook

Lyft (NASDAQ: LYFT) reported Q2 EPS of ($0.68), $0.90 better than the analyst estimate of ($1.58). Revenue for the quarter came in at $867 million versus the consensus estimate of $809.27 million.

“Lyft’s second quarter was marked by strong execution and important advances in our product and platform. This translated to record revenue driven by better than expected Active Rider growth and Revenue per Active Rider monetization,” said Logan Green, co-founder and chief executive officer of Lyft. “We remain focused on reshaping transportation and we are pleased with the continued improvement in market conditions. This environment along with our execution is translating to strong revenue growth and sales and marketing efficiencies. As a result of this positive momentum, we anticipate 2019 losses to be better than previously expected and we are pleased to have updated our outlook.”

GUIDANCE:

Lyft sees Q3 2019 revenue of $900-915 million, versus the consensus of $840.92 million.

Lyft sees FY2019 revenue of $3.47-3.5 billion, versus the consensus of $3.32 billion.

For earnings history and earnings-related data on Lyft (LYFT) click here.

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