Ride sharing service Lyft (NASDAQ: LYFT) will be reporting results this Wednesday after market close. Here’s what to expect.
Lyft missed analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $1.59 billion, up 10.6% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ EBITDA estimates but a slight miss of analysts’ revenue estimates. It reported 26.1 million users, up 10.1% year on year.
Is Lyft a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Lyft’s revenue to grow 12% year on year to $1.70 billion, slowing from the 31.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.31 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Lyft has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Lyft’s peers in the consumer internet segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Upwork delivered year-on-year revenue growth of 4.1%, beating analysts’ expectations by 4.3%, and Carvana reported revenues up 54.5%, topping estimates by 11.1%. Carvana traded down 13.8% following the results.
Read our full analysis of Upwork’s results here and Carvana’s results here.
The outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. While some of the consumer internet stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 4.2% on average over the last month. Lyft is down 4% during the same time and is heading into earnings with an average analyst price target of $20.18 (compared to the current share price of $20.88).
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