Lyft (LYFT) Q1 Revenues Beat

Lyft (NASDAQ: LYFT) reported Q1 EPS of ($1.31), which does not compare to the analyst estimate of ($0.53). Revenue for the quarter came in at $609 million versus the consensus estimate of $558.7 million.

“The improvements we’ve made over the last year are paying off - we’ve built a much stronger business. As the recovery continues, we are confident that we will be able to deliver strong financial results” said Logan Green, co-founder and chief executive officer of Lyft. “We expect to build a significantly larger company by attacking the trillion dollar plus market opportunity in front of us.”

“We had an exceptionally strong Q1 as more people started moving again. Our results meaningfully exceeded our outlook driven by elevated demand across our network,” said Brian Roberts, chief financial officer of Lyft.

“With the pending sale of our Level 5 self-driving division, Lyft is set up to win the transition to autonomous through our hybrid network of human drivers and AVs, advanced marketplace tech, and leading fleet management capabilities,” said John Zimmer, co-founder and president of Lyft.

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

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