Lyft had a fruitful Q3

November 11, 2020
Lyft had a fruitful Q3

Higher-than-expected Q3 figures for Lyft

One of Uber's toughest competitors, Lyft, posted its Q3 2020 earnings, and the market was impressed.

In the past quarter, the California-based company reported revenues that topped the consensus by coming in at $499.7 million. The market was looking for $486.6 million. Last year's figures came in at $339 million. Lyft reported an increase also in the number of active riders. From the previous 8.7 million reported, the number increased to 12.5 million.

Moreover, Lyft announced that it is discussing with various retailers and restaurants to expand its delivery segment.

After the news hit the wire, Lyft stock price jumped 6%.

Sources: cnbc.com

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