Lyft Beats Q1 Revenue and Bookings Estimates as Ride Volume Misses
Lyft reported first-quarter revenue of $1.65 billion, up 14% from a year earlier and ahead of estimates, while gross bookings rose 19% to $4.95 billion, also topping expectations. Rides increased 8.5% to 236.9 million, but missed estimates. Adjusted EBITDA came in at $132.8 million, slightly above expectations, while earnings per share of $0.04 fell short of the $0.06 estimate.
For the second quarter, Lyft forecast adjusted EBITDA of $160 million to $180 million and gross bookings of $5.30 billion to $5.43 billion, compared with estimates of $167.3 million and $5.32 billion, respectively. The company said winter storms shaved 3 million rides in the first quarter, with more than half of the impact coming from bikes and scooters, and said it expects gross bookings growth to outpace ride growth in the current period.
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@techmemeLyft reports Q1 revenue up 14% YoY to $1.65B, vs. $1.63B est., gross bookings up 19% to $4.95B, vs. $4.91B est., and rides up 8.5% to 236.9M, vs. 241.2M est. (@kelly_cloonan / Wall Street Journal) (Visit Techmeme dot com for the link and f
@wolf_financialLYFT $LYFT JUST REPORTED Q1 EARNINGS Q1 results: - Revenue: $1.65B vs $1.63B est 🟢 - Gross Bookings: $4.95B vs $4.92B est 🟢 - Adj EBITDA: $132.8M vs $131.4M est 🟢 - EPS: $0.04 vs $0.06 est 🔴 - Rides: 236.9M vs 242M est 🔴 Q2 guide: - Adj E