Lyft: losses fall in Q2

(CercleFinance.com) - On Tuesday evening, VTC services platform Lyft reported a net loss of $114.
3m for Q2 2023, or 30 cents per share, compared with $377.2m, or $1.08 per share, a year ago.

The group returned to a positive adjusted EBITDA margin, at 4% compared with -19.8% in Q2 2022, while its sales rose by 3% to $1.02bn, reflecting strong growth of 18% in ridesharing trips.

For Q3, Lyft forecasts adjusted EBITDA of between $75m-to-$85m, representing a margin of around 7% on expected sales of about $1.13bn to $1.15bn.

While it considers that its Q2 figures are generally correct, with Q3 forecasts better than expected, Susquehanna points to the company's initial comments on Q4 expectations falling short of estimates.


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