Lyft Earnings: What To Look For From LYFT

Radek Strnad /
2023/11/07 2:03 am EST

Ride sharing service Lyft (NASDAQ: LYFT) will be reporting earnings tomorrow after market hours. Here's what to look for.

Last quarter Lyft reported revenues of $1 billion, up 3% year on year, missing analyst expectations by 0.2%. It was a mixed quarter for the company, with optimistic revenue guidance for the next quarter but slow revenue growth. The company reported 21.5 million users, up 8.2% year on year.

Is Lyft buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Lyft's revenue to grow 8.4% year on year to $1.1 billion, slowing down from the 21.9% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.13 per share.

Lyft Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates twice over the last two years.

Looking at Lyft's peers in the consumer internet segment, some of them have already reported Q3 earnings results, giving us a hint what we can expect. Booking delivered top-line growth of 21.3% year on year, beating analyst estimates by 1.1% and Udemy reported revenues up 16.6% year on year, exceeding estimates by 3.6%. Booking traded down 3.8% on the results, Udemy was up 13%.

Read our full analysis of Booking's results here and Udemy's results here.

Investors in the consumer internet segment have had steady hands going into the earnings, with the stocks up on average 0.6% over the last month. Lyft is down 4.1% during the same time, and is heading into the earnings with analyst price target of $12.3, compared to share price of $10.5.

One way to find opportunities in the market is to watch for generational shifts in the economy. Almost every company is slowly finding itself becoming a technology company and facing cybersecurity risks and as a result, the demand for cloud-native cybersecurity is skyrocketing. This company is leading a massive technological shift in the industry and with revenue growth of 70% year on year and best-in-class SaaS metrics it should definitely be on your radar.

Join Paid Stock Investor Research

Help us make StockStory more helpful to investors like yourself. Join our paid user research session and receive a $50 Amazon gift card for your opinions. Sign up here.

The author has no position in any of the stocks mentioned.