Lyft beats Wall Street expectations for Q2
Lyft Wednesday posted narrower losses and higher revenue than expected for the second quarter, though revenue did fall 61% from the same period last year.
Why it matters: Lyft's business has been hard hit by the coronavirus pandemic as people stay home.
By the numbers:
- Loss per share: $0.86, compared to $0.99 expected, per Yahoo Finance.
- Revenue: $339.3 million, compared to $336.8 million expected, per Yahoo Finance.
- Active riders: 8.7 million, down 60% year-over-year.
- Revenue per active rider: $39.06, down 2% year-over-year.
Meanwhile, the company is also fighting a new court injunction that would force it and rival Uber to immediately reclassify California drivers as employees.