Lyft Stock Rallies On Mixed Q3 Earnings: EPS Beat, Revenues Miss

Core Insights - Lyft's stock increased following the release of its third-quarter earnings report, which exceeded EPS estimates [1] Financial Performance - Lyft reported quarterly earnings of 11 cents per share, surpassing the consensus estimate of 7 cents [2] - Quarterly revenue was $1.68 billion, slightly below the analyst consensus estimate of $1.69 billion [2] Operational Highlights - The company achieved record gross bookings of $4.8 billion, representing a 16% year-over-year increase [5] - Rides growth accelerated to 15% year-over-year, totaling 248.8 million rides [5] - Active riders grew by 18% year-over-year, reaching 28.7 million [5] Strategic Initiatives - CEO David Risher stated that Lyft's comeback strategy is proving effective, with multiple catalysts driving momentum and growth [3] - The company announced new autonomous vehicle partnerships and acquired a luxury chauffeuring company to enhance its service offerings [3]