Lyft beats Q2 revenue estimates as active riders hit record high

Lyft

06/08/2026 21:16

Overview
US ride-hailing platform's Q2 revenue rose 16% yr/yr, beating analyst expectations
Adjusted EBITDA for Q2 beat analyst expectations, up 37% yr/yr
Company reported record 30.5 mln active riders and record gross bookings

Outlook
Lyft sees Q3 gross bookings of $5.50 bln to $5.67 bln, up 15%-19% year over year
Company expects Q3 adjusted EBITDA of $183 mln to $203 mln
Lyft forecasts Q3 adjusted EBITDA margin of 3.3% to 3.6%

Result Drivers
ACTIVE RIDER GROWTH - Record 30.5 mln active riders, up 17% yr/yr, cited as leading indicator of growth
RIDE VOLUME - Rides accelerated to record levels, up 12% yr/yr, with global strength across Freenow by Lyft in Europe, North American rideshare, and Lyft Urban Solutions
PARTNERSHIP EXPANSION - About 30% of North American rideshare rides linked to a partnership, an all-time high, as Lyft expanded collaborations with established operators

Company press release: ID:nBw9S5DVya

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$1.84 bln
$1.81 bln (38 Analysts)
Q2 Net Income
 
$50.30 mln
 
Q2 Adjusted EBITDA
Beat
$177.20 mln
$172.18 mln (35 Analysts)
Q2 Adjusted EBITDA Margin
 
3.2%
 
Q2 Gross Bookings
 
$5.50 bln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 17 "strong buy" or "buy", 31 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the online services peer group is "buy."
Wall Street's median 12-month price target for Lyft, Inc. is $18.00, about 9.2% above its August 5 closing price of $16.48
The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 19 three months ago

Reuters Recommended Reads
Aug 6 - Lyft signals steady demand as second-quarter revenue tops estimates 
Aug 5 - Uber doubles down on robotaxi plans, shares fall on weak profit forecast
Aug 5 - Amazon's Zoox to start paid robotaxi rides in Vegas next week

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)