Lyft stock price up after strong revenue and raised outlook
Lyft's share price is up by more than 11% after the company's Q2 earnings beat analyst revenue expectations, but also posted much wider losses than predicted (largely because of IPO-related stock compensation).
The big picture: Lyft also raised its sales outlook for the year to roughly $3.5 billion.
By the numbers:
- Revenue: $867.3 million, above the $809 million analysts expected, according to FactSet.
- Net loss: $644.2 million, much wider than the $445 million analysts expected.
- Active riders: 21.8 million, up 41% from a year ago.
- Revenue per active rider: $39.77, up 22% from a year ago.
What’s next: Rival Uber is set to post its earnings Thursday after market close.