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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

15 mins ago - Politics & Policy

Cadillac's electric shift begins with launch of 2023 Lyriq SUV

2023 Cadillac Lyriq. Photo: GM

GM plans to start taking orders in September for the 2023 Cadillac Lyriq, a striking electric SUV coming early next year at a starting price of $59,900.

Why it matters: The production version of the Lyriq, which debuted Wednesday, marks the beginning of the luxury brand's phaseout of gasoline-powered vehicles by 2030.

How Minneapolis police initially described George Floyd's murder

Memorial to George Floyd at the intersection of 38th Street and Chicago Avenue in Minneapolis. Brandon Bell/Getty Images

A Minneapolis Police Department press release from the day of George Floyd's death last year went viral Tuesday in the wake of Derek Chauvin's conviction on murder charges.

The big picture: MPD's initial description of the tragedy, which set off a massive global movement that culminated in the jury's guilty verdict on all charges, claimed that Floyd "physically resisted officers" and "appeared to be suffering medical distress" after being handcuffed. It made no mention of the kind of force Chauvin used on the 46-year-old Black man.

Kendall Baker, author of Sports
1 hour ago - Sports

How the European Super League collapsed in spectacular fashion

Illustration: Sarah Grillo/Axios

Plans for a European Super League fell apart on Tuesday, just two days after the proposed soccer competition was announced.

How it went down: Manchester City, one of the six English Premier League clubs set to join the 12-team breakaway league, was the first to confirm it was out.

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