NewsMeter
30.5 million active riders, a company record and the seventh straight quarter of double-digit growth, pushed Lyft (LYFT) gross bookings to $5.5 billion in its latest quarter, up 23% year over year.
Revenue came in at $1.8 billion, a 16% YoY gain, while net income rose to $50.3 million from $40.3 million in the year-ago period. Profitability metrics and the math Adjusted EBITDA reached $177.2 million, up 37% YoY.
The margin on gross bookings widened to 3.2% from 2.9%. Free cash flow was $319.6 million for the quarter and $1.1 billion over the trailing 12 months. Total rides hit 262 million, up 12% YoY, also a record.
Partnerships now account for 30% of North American rideshare rides, an all-time high.
Keep reading