Lyft (NASDAQ:LYFT) earnings for the ride-sharing service’s fourth quarter of 2019 have LYFT stock taking a beating after-hours Tuesday. That’s after reporting diluted losses per share of -$1.19 on revenue of $1.02 billion. These are both better than Wall Street’s estimates of -$1.39 per share and revenue of $984.17 million.
Here’s a more thorough look at the most recent Lyft earnings report.
- Diluted per-share losses are down 89.46% from -$11.29 during the same time last year.
- Revenue for the quarter comes in 52.35% higher than the $669.50 million from the fourth quarter of 2018.
- Operating loss of -$381.80 million is 441.36% worse YoY than -$270.10 million.
- The Lyft earnings report also has it revealing a net loss of -$356 million.
- That’s a 43.03% wider net loss than the -$248.90 million from the same period of the year prior.
Logan Green, co-founder and CEO of Lyft, has this to say about the LYFT stock earnings:
“Fiscal 2019 was an exceptional year across the board. We significantly improved our path to profitability while simultaneously reaching critical milestones toward our long-term strategy. Continued strength in core rideshare drove our industry-leading growth, led by product innovation and operational excellence on every facet of our robust transportation platform..”
The Lyft earnings report also includes its outlook for the full year of 2020. This has it expecting revenue between $4.575 billion and $4.65 billion. For comparison, Wall Street is looking for revenue of $4.59 billion during the year.
LYFT stock is down more than 4% after markets closed on Tuesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.