As the Street seemed to anticipate, Lyft Inc LYFT’s first quarter — and its first reporting period as a public company — fell short of bottom-line expectations. A $9.02 loss per share underperformed forecasts for a loss of $3.77.
Meanwhile, revenue of $776.027 million beat a $739.48-million estimate, and this quarter’s loss in earnings before interest, tax, depreciation and amortization ($216 million) improved from the loss of the comparable quarter last year ($238.7 million).
Lyft’s report also revealed:
- 46-percent annual growth in active riders and 34-percent growth in revenue per active rider;
- Year-over-year revenue growth of 95 percent; and
- $3.5 billion in adjusted cash.
Management guided for second-quarter sales between $800 million and $810 million with an EBITDA loss between $270 million and $280 million. It sees full-year sales between $3.275 billion and $3.3 billion with EBITDA loss between $1.175 billion and $1.15 billion.
Lyft's stock spiked more than 7 percent immediately following the release. At time of publication, Lyft was down 3 percent in after-hours trading. The stock closed at 59.34 per share, down 2 percent..
Lyft’s earnings precede the Friday IPO of mobility competitor, Uber.
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