Lyft Stock Races Higher After Q4 Results Lyft Stock Accelerates Amid Q4 Success

Written By Michael Gary Scott


Lyft, Inc. LYFT revealed its financial outcomes for the fourth quarter after the bell on Tuesday. Here’s a breakdown of the key points.

The Breakdown:

Lyft announced quarterly sales of $1.22 billion, matching the analyst consensus estimate and representing a 4.22% increase from sales of $1.18 billion in the same period the previous year. The company also disclosed fourth-quarter gross bookings of $3.7 billion, marking a 17% increase year-over-year.

The company further reported full-year revenue of $4.4 billion, an 8% rise year-over-year. Additionally, the number of rides in the fourth quarter surged by 26% year-over-year, propelled by robust rideshare demand.

“Lyft’s exceptional Q4 performance showcases our team’s remarkable efforts in laying a robust foundation for profitable growth,” commented CFO Erin Brewer.

“We’ve stepped into 2024 with considerable momentum and a clear emphasis on operational excellence, positioning the company for substantial margin expansion and our inaugural year of positive free cash flow,” Brewer remarked.

Lyft anticipates first-quarter gross bookings in the range of $3.5 billion to $3.6 billion.

Related News: Avis Budget Group Stock Dips After Mixed Q4 Results

LYFT Price Action: According to Benzinga Pro, Lyft shares are trading up nearly 24% after-hours at $15.00 at the time of publication.

Photo via Shutterstock


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