LYFT Stock Recent News

Shares of Lyft crashed nearly 20% after reporting Q2 results, primarily on a weaker bookings outlook for Q3. The company has elected to focus on profitable growth, pulling back on incentives and sales and marketing. As a result, it hit GAAP profitability for the first time. That's not to say growth is lacking: the company is also hitting new records in rides, active riders, and gross bookings.

Lyft topped estimates on the top and bottom lines, and it reported its first-ever GAAP profit. The company capitalized on events like Pride and college graduations.

Ride-hailing platform Lyft on Wednesday (Aug. 7) announced performance benchmarks in the second quarter, reflecting strong engagement from both riders and drivers. The company reported a record 23.7 million active riders, representing a 10% increase from the previous year.

Ride-sharing specialist Lyft (NASDAQ: LYFT ) is seeing shares plunge during the midweek session despite generally positive second-quarter earnings results. However, it appears that the market is responding to the minutia of the print, which left some questions.

Lyft shares slid by the most in more than a year after the ride-hailing company posted second-quarter bookings and issued an outlook that fell short of Wall Street's expectations. Lyft CEO David Risher joins Ed Ludlow to discuss the company's results on "Bloomberg Technology.

Lyft shares tumbled to their biggest loss in more than a year on Wednesday after the ride-hailing app reported gross bookings that spooked investors.

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Lyft, Inc. (NASDAQ:LYFT ) Q2 2024 Results Conference Call August 7, 2024 8:15 AM ET Company Participants Aurelien NOLF - VP, FP&A and Investor Relations David Risher - Chief Executive Officer Erin Brewer - Chief Financial Officer Conference Call Participants Doug Anmuth - JPMorgan Ken Gawrelski - Wells Fargo Michael McGovern - Bank of America Brian Nowak - Morgan Stanley Brad Erickson - RBC Capital Markets Eric Sheridan - Goldman Sachs Stephen Ju - UBS John Colantuoni - Jefferies Nikhil Devnani - Bernstein Bernie McTernan - Needham & Company Operator Good morning, and welcome to the Lyft Second Quarter 2024 Earnings Call. [Operator Instructions].

Lyft CEO David Risher, joins ‘Squawk Box' to discuss their latest earnings, their competition with Uber, and more.

Lyft Inc. turned its first GAAP profit in its latest quarter, while reporting a record number of rides and its largest quarterly haul of new drivers in years.