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Lyft stock falls despite earnings beat and raising guidance for year

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Lyft slides despite an earnings beat. Here are the key numbers: Loss per share: $1.57 vs. $1.66, per Refinitiv estimates Revenue: $955.6 million vs. $915 million, per Refinitiv estimates

on Wednesday released its earnings report for the third quarter, where it beat on both the top and bottom lines, as well as raised its revenue guidance for 2019. The stock fluctuated following the report and was down as much as 1.4% in extended trading.$955.6 million vs. $915 million, per Refinitiv estimates

For the full year, Lyft now expects to report revenue between $3.57 billion and $3.58 billion, which is an increase from its prior guidance of $3.47 billion to $3.50 billion. The company also projected revenue between $975 million and $985 million for the fourth quarter, which significantly exceeds analysts' expectations for $943 million in revenue.

"We're not doing food, not doing trucking," Roberts said. "We are 100% focused on our transportation network and platform scale to unlock more efficiency." In addition to the better-than-expected results and brighter guidance, the company reported it had 22.3 million "active riders" on its platform in the third quarter, compared to consensus estimates of 22.1 million active riders. Revenue per active rider surged 27% year-over-year to $42.8 million.

 

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