Investing.com -- LYFT Inc (NASDAQ:LYFT) shares were rising after the ride-hailing company beat expectations for the second quarter and provided better than forecast guidance.
Adjusted earnings per share of 16 cents beat expectations for a 1 cent per share loss in the quarter. Revenue of $1.02 billion matched the consensus estimate.
Lyft sees third quarter revenue of $1.13B to $1.15B, which is higher than Wall Street estimates.
CEO David Risher said: “Between summer travel and return-to-office commuting, folks are getting out more every day and loving the Lyft rideshare experience. Standard rides have reached their second-highest level ever.”
Shares rose 14% in after-hours trading and are up 5% so far this year.
The company reported adjusted earnings before interest, taxes, depreciation, and amortization of $41 million, which is higher than its guidance for $20M to $30M.
Active riders rose 8.2% to 21.5M. The company sees third quarter adjusted Ebitda of between $75M and $85M.