NASDAQ$LYFT
LYFT Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Lyft achieved its first-ever quarter of GAAP profitability, accompanied by all-time high active riders and rides.
Lyft announced strong Q2 2024 financial results, marked by the company's first-ever quarter of GAAP profitability. The company saw record numbers in active riders and rides, driven by customer obsession and platform growth.
- Gross Bookings increased by 17% year-over-year, reaching $4.0 billion.
- Revenue grew by 41% year-over-year to $1.4 billion.
- Lyft reported a net income of $5.0 million, a significant improvement from the $(114.3) million net loss in Q2 2023.
- Active Riders reached an all-time high of 23.7 million, up 10% year-over-year, and Rides hit a company record of 205 million, up 15% year-over-year.
Headline financials
Revenue & EPS history
Lyft · Revenue · Quarterly
$1.44B
Forward guidance
Lyft anticipates Gross Bookings of approximately $4.0 billion to $4.1 billion and Adjusted EBITDA between $90 million to $95 million for Q3 2024.
Tailwinds
- Gross Bookings of approximately $4.0 billion to $4.1 billion.
- Adjusted EBITDA of $90 million to $95 million.
- Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) of approximately 2.3%.
- Rides growth in the mid-teens year-over-year.
- We remain on track to generate positive free cash flow for the full year.
Headwinds
- We have not provided the forward-looking GAAP equivalent to our non-GAAP outlook or a GAAP reconciliation as a result of the uncertainty regarding, and the potential variability of reconciling items such as stock-based compensation and income tax.
- Reconciling items could have a significant effect on future GAAP results.
- Forward-looking statements are subject to risks and uncertainties, including those more fully described in Lyft's filings with the Securities and Exchange Commission.
- Lyft disclaims any obligation to update any forward-looking statements, except as required by law.
- Macroeconomic environment
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
-1.8%
Avg return
Earnings day
-1.3%
Avg return
5 days after
-3.0%
Avg return
30 days after
43%
12 / 28 earnings
Positive
+32.2%
Q4 2023
Best reaction
-38.4%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.5% | -3.7% | -3.5% | |
| Q4 2025 | -17.0% | -21.2% | -22.4% | |
| Q3 2025 | +2.7% | +20.4% | +14.4% | |
| Q1 2025 | +27.8% | +29.7% | +19.5% | |
| Q4 2024 | -7.9% | -6.7% | -17.2% | |
| Q3 2024 | +28.2% | +34.7% | +15.5% | |
| Q2 2024 | -8.2% | -11.5% | +0.8% | |
| Q1 2024 | +1.5% | -1.9% | -10.4% | |
| Q4 2023 | +32.2% | +44.4% | +43.6% | |
| Q3 2023 | -6.9% | -9.8% | +22.0% | |
| Q2 2023 | -5.2% | +3.7% | -1.6% | |
| Q1 2023 | -20.8% | -20.8% | -12.0% | |
| Q4 2022 | -38.4% | -35.8% | -48.0% | |
| Q3 2022 | -20.7% | -7.6% | -24.9% | |
| Q2 2022 | +21.4% | +11.7% | -12.6% | |
| Q1 2022 | -31.6% | -34.9% | -41.7% | |
| Q4 2021 | +12.5% | +2.3% | -3.8% | |
| Q3 2021 | +5.7% | +15.4% | -11.3% | |
| Q2 2021 | -11.6% | -6.4% | -12.0% | |
| Q1 2021 | -7.8% | -12.3% | -1.3% | |
| Q4 2020 | +5.2% | +7.9% | +17.4% | |
| Q3 2020 | -3.4% | -0.4% | +27.6% | |
| Q2 2020 | -5.8% | -11.4% | +0.4% | |
| Q1 2020 | +19.1% | +17.5% | +44.7% | |
| Q4 2019 | -9.8% | -16.8% | -55.5% | |
| Q3 2019 | -5.1% | -1.9% | +12.1% | |
| Q2 2019 | +5.8% | -4.3% | -24.2% | |
| Q1 2019 | -12.6% | -15.7% | +1.8% | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
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