Lyft CEO David Risher joins 'Squawk Box' to discuss the company's quarterly earnings results, 2025 outlook, impact of losing the Delta partnership, the company's autonomous plans, and more.
Lyft's Q4 earnings were solid, with the company generating strong growth and continuing to improve its margins. Guidance was fairly soft, though. While growth is likely to remain solid in 2025, particularly from high margin revenue sources like advertising, investors appear to be focused on the fact growth is decelerating. Lyft's robotxai partnership with Mobileye could have significant long-term implications, potentially reducing the risk of disruption for incumbent ride-hailing platforms.
Shares in Lyft (LYFT) are tumbling around 14% in premarket trading Wednesday, after the ride-hailing company projected first-quarter bookings that lagged estimates as a price war with rival Uber Technologies (UBER) persists.
Lyft shares tumbled close to 14% in premarket trading on Wednesday after the company issued weaker-than-expected guidance for first-quarter gross bookings, raising concerns about its ability to compete with larger rival Uber Technologies. The sentiment is also hampered as several analysts have reduced their target price on the stock.
Lyft shares slumped 12.5% in premarket trading on Wednesday after the company forecast weak gross bookings for the first quarter, as it battles with larger rival Uber Technologies to attract more riders.
One of the key factors behind Lyft's success in 2024 was its focus on enhancing driver satisfaction and improving service reliability. According to CEO David Risher, the company's “customer obsession” drove this profitable growth.
Lyft, Inc. (NASDAQ:LYFT ) Q4 2024 Earnings Conference Call February 11, 2025 5:00 PM ET Company Participants Aurelien Nolf - VP, FP&A and IR David Risher - CEO Erin Brewer - CFO Conference Call Participants Bryan Smilek - JPMorgan Michael McGovern - Bank of America Eric Sheridan - Goldman Sachs Benjamin Black - Deutsche Bank Shweta Khajuria - Wolfe Research Stephen Ju - UBS Michael Morton - MoffettNathanson Rohit Kulkarni - ROTH Capital Nikhil Devnani - Bernstein Operator Good afternoon, and welcome to the Lyft Fourth Quarter and Full Year 2024 Earnings Call. At this time, all participants are in listen-only mode to prevent any background noise.
While the top- and bottom-line numbers for Lyft (LYFT) give a sense of how the business performed in the quarter ended December 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Lyft (LYFT) came out with quarterly earnings of $0.30 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.19 per share a year ago.
Lyft (LYFT) shares fell sharply in after-hours trading after posting its fourth quarter results. Revenue of $1.55 billion was about in line with the Bloomberg consensus estimate of $1.56 billion.
CNBC's Deirdre Bosa joins 'Closing Bell Overtime' to talk Lyft earnings.
Ride-hailing platform Lyft Inc. on Tuesday rolled out a new buyback program, but its forecast for a key demand metric came in below Wall Street's expectations, as it tries to stay competitive with rival Uber Technologies Inc. on prices and service.