Lyft (LYFT) Tops Q2 EPS by 4c; offers outlook
Lyft (NASDAQ: LYFT) reported Q2 EPS of $0.01, $0.04 better than the analyst estimate of ($0.03). Revenue for the quarter came in at $1.44 billion versus the consensus estimate of $1.39 billion.
OUTLOOK
Third Quarter 2024 Outlook
Gross Bookings of approximately $4.0 billion to $4.1 billion.
Adjusted EBITDA of $90 million to $95 million and an Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) of approximately 2.3%.
FY’24 Directional Commentary: Free Cash Flow Conversion Updated
Rides growth in the mid-teens year-over-year.
Gross Bookings growth that is slightly faster than Rides growth year-over-year.
Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) of approximately 2.1%.
We remain on track to generate positive free cash flow for the full year. Given our strong progress in the first half of the year and our increased visibility, we now expect we’ll reach our more than 90% long-term conversion target for the full-year 2024, well ahead of schedule.
For earnings history and earnings-related data on Lyft (LYFT) click here.