LYFT Q4 Earnings Beat, Revenues Miss, Gross Bookings Rise Y/Y

Core Insights - Lyft Inc. reported fourth-quarter 2024 earnings of 30 cents per share, exceeding the Zacks Consensus Estimate of 23 cents and showing year-over-year improvement [1] - Revenues reached $1.55 billion, slightly missing the Zacks Consensus Estimate by 0.1%, but reflecting a 26.6% year-over-year growth [2] - Active riders increased by 10% year-over-year to 24.7 million, indicating growth in the rideshare market [2] Financial Performance - Gross bookings for the quarter were $4.27 billion, marking a year-over-year increase of 15% [2] - Adjusted EBITDA for the fourth quarter was $112.8 million, up 69.7% from the previous year, with an adjusted EBITDA margin of 2.6% compared to 1.8% in the prior-year quarter [3] - Cash and cash equivalents at the end of the fourth quarter were $759.32 million, down from $770.29 million in the prior quarter, while long-term debt decreased to $565.96 million from $574.47 million [4] Future Guidance - For Q1 2025, Lyft anticipates mid-teens year-over-year growth in rides, with gross bookings expected to be between $4.05 billion and $4.20 billion, implying a growth of 10-14% year-over-year [5] - Adjusted EBITDA is projected to be between $90 million and $95 million, with an adjusted EBITDA margin expected to be in the range of 2.2%-2.3% [6] Stock Buyback - Lyft's board of directors has authorized a repurchase of up to $500 million of the company's Class A common stock, indicating confidence in the company's financial health [4]