Lyft LYFT incurred a loss of 32 cents per share (excluding 99 cents from non-recurring items), narrower than the Zacks Consensus Estimate of a loss of 56 cents. Results were aided by solid revenue growth of 23% on a year-over-year basis to $955.7 million, courtesy of a rise in Active Riders and Revenue per Active Rider. The top line also surpassed the Zacks Consensus Estimate of $864.4 million.
Active Riders (riders who take at least one ride during a quarter on Lyft’s multimodal platform through its app) increased 3% year over year to 21.21 million in the quarter under review. This San Francisco-based company’s Revenue per Active Rider climbed 19% to $45.06 million. Given the substantial impact of the coronavirus outbreak, the