Lyft (LYFT) Stock Falls 6% Despite Strong Q4 Revenue
Lyft (NASDAQ: LYFT) shares were trading 6% lower after-hours, despite the company’s reported Q4 revenue of $969.9 million (up 70% year-over-year) coming in better than the consensus estimate of $939.06 million. While the company’s total active drivers grew 34% year-over-year in Q4, the number came in worse than the Street estimate. This may be a reason for a stock sell-off after-hours.
Revenue per active rider rose 13.5% quarter-over-quarter to an average of around $52 in Q4, which, according to Lyft President John Zimmer, was largely due to more pricey airport rides that more than doubled from a year ago.
For the full 2021-year, the company posted revenue of $3.2 billion, which represents a 36% year-over-year growth.