Lyft (LYFT) Tops Q3 EPS by 9c, Revs Beat; Raises Outlook

Lyft (NASDAQ: LYFT) reported Q3 EPS of ($1.57), $0.09 better than the analyst estimate of ($1.66). Revenue for the quarter came in at $956 million versus the consensus estimate of $915.04 million.

“Our third quarter results demonstrated the significant progress Lyft has made on our path to profitability. Record revenue was generated by strong growth in both Active Riders and Revenue per Active Rider as we continue to increase engagement through product innovation and execution,” said Logan Green, co-founder and chief executive officer of Lyft. “Our continued focus on consumer transportation is yielding meaningful improvements in monetization and strong operating leverage. As a result of the continued strength of our execution, we are updating our outlook for 2019. Importantly, we now expect to be profitable on an Adjusted EBITDA basis in the fourth quarter of 2021.”

GUIDANCE:

Lyft sees Q4 2019 revenue of $975-985 million, versus the consensus of $942.6 million.

Lyft sees FY2019 revenue of $3.57-3.58 billion, versus the consensus of $3.5 billion.

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

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