8/4/2022, 10:07 PM (Source: TeleTrader)
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Lyft revenue jumps 30% to $990.7M in Q2

Lyft Inc. said on Thursday its revenue in the second quarter of fiscal 2022 amounted to $990.7 million, jumping 30% compared to the same period a year earlier.

The ride-hailing company said its net loss stood at $377.2 million, or $1.08 per share. Meanwhile, adjusted net income was $46.4 million, improving from an adjusted net loss of 18 million in the second quarter of 2021. The number of active riders jumped 16% year on year to 19.9 million.

"We generated the highest Adjusted EBITDA in our company’s history and saw COVID highs for Active Riders, drivers and rides. It’s clear consumer transportation is a good long-term business with a massive addressable market," CEO Logan Green stated.

Lyft shares rallied 3.16% in after-hours trading following the announcement of the better-than-expected results.

Baha Breaking News (BBN) / NP