- Lyft reported third-quarter revenue slightly higher than estimates and forecast current-quarter revenue largely in line with expectations on Wednesday, as workers returned to office and there were a higher number of airport rides.Though Lyft only commands about 29% of the ride-hailing market as of September, its share has increased this year from 27% in January after it said it will price its rides competitively with larger rival Uber.
Lyft forecast current-quarter adjusted core profit, a key profitability metric closely watched by investors, of $50 million-$60 million, higher than expectations of $48.8 million. Uber on Tuesday predicted a strong holiday season after a third quarter that was impacted by accounting changes. Revenue grew 10% to $1.16 billion in the quarter ended Sept. 30, surpassing analysts' average estimate of $1.14 billion, according to LSEG data.