Lyft bookings top estimates as revenue grows
Lyft swung to a third-quarter profit, boosted by 11% revenue growth, as bookings topped Wall Street’s expectations.
Shares were up 2.7% in recent after-hours trading.
The company reported earnings per share of $0.11, compared with a loss of $0.03 in the year-earlier quarter. Gross bookings came in at $4.8 billion, slightly more than the $4.7 billion the Street was expecting. It reported revenue of $1.7 billion, in line with analysts’ expectations.
Lyft’s top competitor, Uber, reported revenue numbers on Tuesday that beat expectations, though its stock still took a dip on the news.
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