Company news: Lyft (LYFT) posts mixed quarterly results

Lyft (LYFT) reported Q4 FY2023 earnings of $0.19 per share (versus $(0.76) per share in Q4 FY2022), beating analysts’ consensus estimate of $0.08 per share.

The company’s quarterly revenues amounted to $1.200 bln (0.0% y/y), missing analysts’ consensus estimate of $2.220 bln.

Lyft also reported Q4 FY2023 adjusted EBITDA of $66.6 mln compared to $(248.3) mln in Q4 FY2022 and its guidance of $50-$60 mln.

In addition, the company said it sees Q1 FY2024 gross bookings of $3.5-$3.6 bln and adjusted EBITDA of $50-$55 mln.

In FY2024, Lyft anticipates approximately 50 basis points of adjusted EBITDA margin expansion (calculated as a percentage of gross bookings) and its first positive free cash flow for the full year.

LYFT rose to $14.54 (+19.87%) in pre-market trading.