Company News: Lyft (LYFT) posts smaller-than-expected quarterly loss

Market news

8 August 2019

Company News: Lyft (LYFT) posts smaller-than-expected quarterly loss

Lyft (LYFT) reported Q2 FY 2019 loss of $0.68 per share, better than analysts’ consensus estimate of -$1.00.

The company’s quarterly revenues amounted to $0.867 bln (+71.8% y/y), beating analysts’ consensus estimate of $0.810 bln.

The company also issued upside guidance for Q3 FY 2019, projecting revenues of $0.900-$0.915 bln versus analysts’ consensus estimate of. $0.841 bln.

For FY 2019, the company projected revenues of $3.47-$3.50 bln versus prior outlook of $3.275-$3.30 bln and analysts’ consensus estimate of $3.32 bln.

LYFT rose to $65.15 (+8.06%) in pre-market trading.

AUD/USD to grind higher towards its resistance at 0.6800 – UOB

USD/CNY to be headed higher towards 7.30 – Nordea

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