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What To Expect From Lyft’s (LYFT) Q4 Earnings


Max Juang /
2024/02/12 2:02 am EST

Ride sharing service Lyft (NASDAQ: LYFT) will be reporting results tomorrow after the bell. Here's what investors should know.

Last quarter Lyft reported revenues of $1.16 billion, up 9.8% year on year, beating analyst revenue expectations by 1.3%. It was a mixed quarter for the company, with solid growth in its user base but slow revenue growth. With regards to forward guidance, Q4 Gross Bookings guided was below expectations, although Adjusted EBITDA guidance outperformed Wall Street estimates. The company reported 22.4 million users, up 10.3% 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 3.9% year on year to $1.22 billion, slowing down from the 21.1% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.08 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 Q4 earnings results, giving us a hint of what we can expect. Uber delivered top-line growth of 15.4% year on year, beating analyst estimates by 1.8% and Snap reported revenues up 4.7% year on year, missing analyst estimates by 1.5%. Uber traded up 1.2% on the results, and Snap was down 29.5%.

Read our full analysis of Uber's results here and Snap's results here.

There has been positive sentiment among investors in the consumer internet segment, with the stocks up on average 4.9% over the last month. Lyft is up 4.5% during the same time, and is heading into the earnings with analyst price target of $13.8, compared to share price of $13.1.

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.

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