Lyft posts Q2 earnings beat, stock falls on weak Q3 guidance

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Rideshare platform Lyft (LYFT) reported second-quarter earnings that beat expectations on both revenue and profit. The company posted revenue of $1.44...

) reported second-quarter earnings that beat expectations on both revenue and profit. The company posted revenue of $1.44 billion, topping estimates of $1.39 billion. Additionally, adjusted earnings per share came in at $0.24, surpassing the projected $0.18.

And the results that we got this week as well that seems, uh, synonymous are a common denominator for both of these companies here.I mean, take a look at the fact that they did like you were talking about record driver supply record riders.They had a profit of post a quarterly profit by metrics here of just around 5 million.

I think that maybe shows that consumers are still willing to spend on experiences, but again, just missing what the street was looking for, and that's a big reason why you're looking at shares under a bit of pressure today.

 

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