Lyft rose about 6.7% before the market opened. Q1 results exceeded expectations and its guidance for the second quarter was optimistic.

stock analyst • • US Stocks Focus

Gelonghui, May 8 | U.S. ride-hailing giant Lyft (LYFT.US) U.S. stocks rose about 6.7% before the market opened, at $17.71

Gelonghui, May 8 | U.S. ride-hailing giant Lyft (LYFT.US) U.S. stocks rose about 6.7% before the market opened, at $17.71.
Lyft\’s first quarter revenue was US$1.277 billion, a year-on-year increase of over 27%. Market expectations were US$1.17 billion; adjusted earnings per share were US$0.15, exceeding market expectations of US$0.08.
The company recorded 188 million rides in the first quarter, an increase of 23% year-on-year; total bookings increased 21% year-on-year to $3.7 billion; and the number of active passengers increased 12% year-on-year to 21.9 million.
Lyft expects gross bookings in the second quarter to be about $4 billion to $4.1 billion, higher than market expectations of $3.98 billion.

Like (0)
stock analyststock analyst
Previous May 8, 2024 3:56 pm
Next May 8, 2024 3:56 pm

Related posts

  • Morgan Stanley cuts dozens of investment banking jobs in Asia-Pacific, sources say

    HONG KONG (Reuters) –Morgan Stanley is cutting at least 50 investment banking jobs in Asia Pacific, three sources said, becoming the latest among global banks to scale back operations in the region mainly due to a slump in China markets. The layoffs affect around 13% of the Wall Street bank’s Asia investment banking workforce of 400 in the region, according to one of the sources. Bankers based in Hong Kong and mainland China are going to be affected the most, they said. All of the sources declined to be named as they were not authorised to speak to media. A Morgan Stanley spokesperson declined to comment. Bloomberg first reported the job cuts on Wednesday. The cuts are one the largest to its China-focused investment banking team and follow similar measures by other banks also stung by decline in deal making activities in China amid a slowing economy. In January, Bank of America laid off around 20 bankers in the region, following a flurry of investment bank downsizing by UBS, Citigroup and other boutique firms. Morgan Stanley on Tuesday reported a…

    US Stocks Focus April 16, 2024

  • Yongan Futures (600927.SH): Net profit in the first quarter was 77.9634 million yuan, a year-on-year decrease of 62.58%

    Gelonghui April 25丨Yongan Futures (600927.SH) released the first quarter report of 2024. During the reporting period, it achieved operating income of 4.338 billion yuan, a year-on-year decrease of 19.12%. The net profit attributable to shareholders of listed companies was 77.9634 million yuan, a year-on-year decrease of 62.58%. The net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 73.0205 million yuan, a year-on-year decrease of 63.65%.

    US Stocks Focus April 25, 2024

  • Buzzing stocks.Stocks that will see action today: June 3, 2024

    IT major Infosys has been fined $3,142.02 (around ₹2.60 lakh) by the Texas Comptroller of Public Accounts, US. The penalty was imposed due to non-payment of sales tax for the period of April 2024, according to a regulatory filing.

    US Stocks Focus June 3, 2024

  • Fed official: Fed will remain on hold for longer period

    Minneapolis Fed President Neel Kashkari said the Fed may keep interest rates unchanged for an extended period until new economic data convinces policymakers that inflation is falling.

    US Stocks Focus June 3, 2024

  • Buzzing stocks.Stocks that will see action today: April 29, 2024

    Apollo HealthCo Limited, a subsidiary of Apollo Hospitals Enterprise Limited, has entered into a binding agreement to raise equity capital of ₹2,475 crore from Advent International, one of the world’s largest and most experienced global private equity investors. In addition, Apollo 24/7 has entered into a framework agreement to integrate 100% of Keimed Private Limited, India’s leading wholesale pharma distributor, in a phased manner over the next 24-30 months.

    US Stocks Focus April 29, 2024

  • CNOOC’s net production and net profit achieved strong growth in the first quarter of 2024, with net profit attributable to the parent company of 39.7 billion yuan

    CNOOC\’s operating results for the first quarter of 2024 announced on April 25 showed that in the first quarter, the company continued to increase its efforts in oil and gas exploration and development, solidly promoted quality and efficiency improvements, and consolidated its cost competitiveness. Net oil and gas production and net profit attributable to parent companies achieved strong growth, with both data hitting record highs for the same period in history.

    US Stocks Focus April 25, 2024