Lyft reported Q3 revenue and profit that surpassed estimates

  • Gross bookings growth was lower than Uber’s ride-hailing business
  • Lyft commands 29% of the ride-hailing market, slightly higher than at the start of the year
  • Lyft forecasts current-quarter adjusted core profit of $50 million-$60 million, higher than expectations
  • Lyft expects fourth-quarter revenue to grow in mid-single-digits sequentially
  • Q3 revenue grew 10% to $1.16 billion, surpassing analysts’ estimate
  • Lyft’s adjusted core earnings of $92 million in Q3 topped expectations