Lyft, Inc. (NASDAQ:LYFT) reported better-than-expected earnings results for its fourth quarter after the closing bell on Tuesday.
On CNBC’s "Closing Bell," Deirdre Bosa said the company surpassed market estimates on top and bottom line, reporting adjusted earnings of $0.09 per share, versus analysts’ views of $0.08 per share. The company’s revenue came in at $970 million, also exceeding estimates of $940 million, with revenue per active user coming in much better than expected.
Driver shortages also continued to ease, and incentive spending peaked earlier during 2021.
Bosa added that the demand will now remain the key focus, as riders came in lighter-than-expected. Lyft’s active riders were 18.73 million during the fourth quarter, down from market estimates of 20.2 million. However, an increase in active revenue per user means the company is getting more money per trip, but demand "may be a question" for now.
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Price Action: Shares of Lyft were down 3.91% to $39.59 in pre-market trading on Wednesday morning.
