Lyft (LYFT) Misses Q3 EPS by 23c; offers outlook

Lyft (NASDAQ: LYFT) reported Q3 EPS of ($0.03), $0.23 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $1.52 billion versus the consensus estimate of $1.44 billion.

OUTLOOK

Fourth Quarter 2024 Outlook

Gross Bookings of approximately $4.28 billion to $4.35 billion, up 15% to 17% year-over-year
Adjusted EBITDA of $100 million to $105 million and an Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) of approximately 2.3% to 2.4%.

Updated FY’24 Outlook

Rides growth in the mid-teens year-over-year.
Gross Bookings to grow approximately 17% year-over-year.
Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) of approximately 2.3%, up from the prior outlook of 2.1%.
Free cash flow to exceed $650 million.

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

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