$Lyft Inc (LYFT.US)$ RECAP OF LYFT EARNINGS • Revenue: Repo...
RECAP OF LYFT EARNINGS
• Revenue: Reported at $1.3 billion for Q1 2024, marking a 28% increase year-over-year, surpassing the estimate of $1.160 billion.
• Net Loss: Recorded a net loss of $31.5 million, significantly reduced from a net loss of $187.6 million in Q1 2023, but fell short of the estimated net income of $33.53 million.
• Gross Bookings: Increased by 21% year-over-year to $3.7 billion, indicating robust platform activity and demand.
• Adjusted EBITDA: Improved to $59.4 million from $22.7 million in the prior year's quarter, reflecting better operational efficiency.
• Rides: Number of rides reached 188 million, up 23% compared to the same period last year, driven by strong demand across various service times.
• Active Riders: Grew by 12% year-over-year to 21.9 million, demonstrating effective rider retention and acquisition strategies.
• Free Cash Flow: Positive free cash flow of $127.1 million, a significant improvement from a negative $120.8 million in Q1 2023, supporting a healthier financial position and operational improvements.
• Net Loss: Recorded a net loss of $31.5 million, significantly reduced from a net loss of $187.6 million in Q1 2023, but fell short of the estimated net income of $33.53 million.
• Gross Bookings: Increased by 21% year-over-year to $3.7 billion, indicating robust platform activity and demand.
• Adjusted EBITDA: Improved to $59.4 million from $22.7 million in the prior year's quarter, reflecting better operational efficiency.
• Rides: Number of rides reached 188 million, up 23% compared to the same period last year, driven by strong demand across various service times.
• Active Riders: Grew by 12% year-over-year to 21.9 million, demonstrating effective rider retention and acquisition strategies.
• Free Cash Flow: Positive free cash flow of $127.1 million, a significant improvement from a negative $120.8 million in Q1 2023, supporting a healthier financial position and operational improvements.
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