Lyft shares slump on mixed results

Core Insights - Lyft reported mixed results with shares dropping nearly 5% in extended trading [1] - Earnings per share were 11 cents, surpassing analyst expectations of 8 cents [1] - Revenue was approximately in line at $1.69 billion [1] - Gross bookings, the total value of rides on the platform, slightly exceeded expectations at $4.78 billion [1] - Active riders reached 28.7 million, also above estimates [1] - Adjusted EBITDA was in line at $139 million [1] Future Guidance - For Q4, Lyft is guiding gross bookings between $5.01 billion and $5.13 billion, above expectations at the midpoint [2] - The company anticipates adjusted EBITDA of $135 million to $155 million, with the midpoint aligning with street estimates [2] - Despite positive guidance, the stock is experiencing a sell-off, down approximately 4.5% [2]