Ride sharing service Lyft (NASDAQ: LYFT) will be announcing earnings results this Thursday after market hours. Here’s what investors should know.
Lyft beat analysts’ revenue expectations last quarter, reporting revenues of $1.65 billion, up 13.8% year on year. It was a strong quarter for the company, with strong growth in its users and EBITDA guidance for next quarter topping analysts’ expectations. It reported 28.3 million users, up 16.9% year on year.
Is Lyft a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Lyft’s revenue to grow 13.9% year on year, improving from the 10.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Lyft has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Lyft’s peers in the consumer internet segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Angi’s revenues decreased 10.9% year on year, missing analysts’ expectations by 2.8%, and Fiverr reported a revenue decline of 10%, falling short of estimates by 1.7%. Fiverr traded down 20.8% following the results.
Read our full analysis of Angi’s results here and Fiverr’s results here.
Investors in the consumer internet segment have had steady hands going into earnings, with share prices flat over the last month. Lyft is up 8.4% during the same time and is heading into earnings with an average analyst price target of $19.03 (compared to the current share price of $16.68).
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