Lyft shares wobble after mixed first-quarter earnings
Updated
Updated · Barron's · May 7
Lyft shares wobble after mixed first-quarter earnings
14 articles · Updated · Barron's · May 7
After hours, the stock briefly rose before falling about 3% as revenue reached $1.65 billion and gross bookings $4.946 billion, both above forecasts, while EPS was 4 cents.
Analysts had expected $1.631 billion in revenue, $4.911 billion in gross bookings and adjusted earnings of 5 cents a share, leaving profit the main disappointment despite top-line strength.
Earlier results showed revenue up 14%, profit at $14.3 million, active riders up 17% to 28.3 million and rides up 8.5%, though Lyft shares had already fallen 27% this year.
With AI and autonomous vehicles on the rise, what is the long-term future for human drivers in Lyft's profitability plan?
How will Lyft's AI protect drivers as extreme weather, a risk to its own business, becomes the new normal?
As Lyft's growth relies on partnerships, is it building a sustainable business or a feature for other loyalty programs?