Lyft listing on the Nasdaq. Photo: DON EMMERT/AFP/Getty Images

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.

Go deeper

Trump tries to set a tax trap for Biden

Photo: Jim Watson/AFP via Getty Images

President Trump is trying to lure Joe Biden into a Walter Mondale trap — attempting to force the Democratic nominee to embrace middle-class tax increases as part of his election strategy.

Why it matters: With his Saturday evening executive action to unilaterally rewrite the tax code, Trump again is demonstrating the lengths to which he’ll go to change the conversation — and try to make the election a choice between him and Biden, and not a referendum on him.

Tech's reluctant road to taking on Trump

Illustration: Eniola Odetunde/Axios

The coronavirus pandemic, Black Lives Matter protests and a looming election have brought long-simmering conflicts between tech platforms and President Trump to a boil, as Facebook, Twitter and other services are starting to take presidential misinformation seriously.

What's happening: Wary of becoming arbiters of political speech, tech's platforms have carved out a range of exceptions and immunities for Trump and other political leaders — but that accommodation is coming undone.

1 hour ago - Sports

The cost of kids losing gym class

Illustration: Aïda Amer/Axios

With a growing number of schools opting for online-only classes this fall to limit the spread of COVID-19, physical education will be severely limited, if not suspended altogether.

Why it matters: While classroom-based learning can be done virtually, it's nearly impossible to replicate physical education — which plays a crucial role in kids' physical and mental health — through a screen. And with sports on hold in most states, PE is the only physical activity outlet some kids have.