Lyft, Inc. (NASDAQ: LYFT) has introduced working outcomes for the second quarter of 2022, reporting a internet revenue on an adjusted foundation, in comparison with a loss final yr. The underside line benefitted from continued restoration in ride-hailing.
The San Francisco-headquartered taxi reserving platform reported an adjusted revenue of $46.4 million for the second quarter of 2022, in comparison with a lack of $18 million in the identical interval of final yr. On an unadjusted foundation, it was a internet lack of $377.2 million or $1.08 per share, in comparison with a lack of $251.9 million or $0.76 per share within the prior-year interval.
At $990.7 million, revenues have been up 30% year-over-year. Second-quarter adjusted EBITDA elevated to $79.1 million from $23.8 million within the corresponding interval of 2021.
Learn administration/analysts’ feedback on quarterly studies
“We leaned in exhausting in Q2 and the workforce did incredible work to drive sturdy outcomes. We generated the best Adjusted EBITDA in our firm’s historical past and noticed COVID highs for Energetic Riders, drivers, and rides. It’s clear client transportation is an efficient long-term enterprise with an enormous addressable market,” mentioned Logan Inexperienced, chief govt officer of Lyft.
