The ride-hailing company – Lyft – announced Q4 2021 results that beat top and bottom EPS and revenue estimates
Despite the challenges posed by COVID-19, Lyft managed to end the last quarter of 2021 mainly on a high note. It reported an adjusted EPS of 9 cents, topping by 1 cent the expectations. The revenue came in at $970 million, significantly higher than $940.1 million expected by the market, and marked a 70% year-over-year increase.
For the last quarter of 2021, Lyft reported 18.73 million active riders, up nearly 50% year over year. However, the figures fell short of the 20.2 million riders for the quarter.
Even though demand started to pick up, Lyft expects the omicron surge to drag down the earnings for Q1 2022, projecting a revenue as high as $850 million. As far as the number of active riders is concerned, the company didn't provide clear guidance, but it expects rides to decline quarter over quarter slightly.
The markets weren't pleased that omicron would weigh on Q1 2022 numbers. At the moment of writing, Lyft's stock price was down 1%.
Sources: cnbc.com, finance.yahoo.com