Summary by Moomoo AI
On August 7, 2024, Lyft Inc. announced its financial results for the second quarter ended June 30, 2024, marking the company's first-ever quarter of GAAP profitability. The report highlighted a significant year-over-year increase in key financial metrics, including a 17% rise in Gross Bookings to $4.0 billion, a 41% surge in revenue to $1.4 billion, and a net income of $5.0 million, a stark contrast to the $114.3 million net loss in the same quarter of the previous year. Adjusted EBITDA stood at $102.9 million, up from $41.0 million in Q2 2023. Operational highlights included an all-time high of 23.7 million Active Riders and a record 205 million rides, with driver hours reaching a peak and the most new drivers since 2019. The company also noted significant events such as Pride celebrations...Show More