Q3 LYFT’s revenue in 2020 is $339.3 million, with a year-on-year increase of 47% From LYFT financial report

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The following is the Q3 LYFT’s revenue in 2020 is $339.3 million, with a year-on-year increase of 47% From LYFT financial report recommended by recordtrend.com. And this article belongs to the classification: Enterprise financial report.

After the third quarter results, the shares of American taxi giant LYFT soared, rising more than 7% in after hours trading on Tuesday. LYFT, which competes with Uber’s taxi service, had revenue of $499.7 million in the third quarter, down 48% from $955.6 million in the same period last year. This is a 47% increase from last quarter’s revenue of $339.3 million.

Investors were heartened by the improvement and LYFT’s ability to beat analysts’ expectations of $48645 million in revenue. The company had a net loss of $1.46 a share, worse than expected, but investors seemed more bullish than bearish, giving LYFT a buy rating after the company’s earnings report was released.

LYFT’s performance in this quarter is a story of year-on-year decline and month on month growth. On this theme, the company’s active drivers are down 44% from a year ago and up 44% from the second quarter of 2020. Compared with the third quarter of 2019, the revenue per active driver decreased by 7%, but increased by 2% compared with the previous quarter in a row.

Like Uber, LYFT is enjoying investor patience as it is tapping into the taxi market hit by covid-19, while Uber is buffering its taxi revenue from distribution and international operations. LYFT focuses on the U.S. market, lacks delivery projects like Uber, and is greatly affected by the U.S. domestic market.

The increasing number of covid-19 cases and other reasons may threaten the recovery of LYFT. However, despite the impact of the epidemic, its core economic benefits did not plummet. In the third quarter of 2020, LYFT’s contribution rate – an indicator similar to the adjusted gross margin results – was 49.8%. In the same period last year, it was 50.1%.

The next big hurdle for LYFT is profitability. Logan Green said on Tuesday’s earnings call that the company is still expected to achieve adjusted EBITDA earnings in the fourth quarter of 2021, with a historically slow recovery, adding that LYFT was taking an extremely stringent approach to increasing its operating leverage. Green said LYFT is positioned to meet this profit target, which is about 30% less than when it first announced its fourth quarter profit target for 2021 last fall.

LYFT ended the third quarter with $2.5 billion in cash and equivalents. Its business has consumed $1.1 billion in cash so far this year, up about $156 million in the third quarter. At $50 million a month, LYFT has plenty of room to recover more losses, as well as year-on-year growth.

LYFT: 2q20 revenue of $339.3 million, net loss narrowed year on year Lyft:1Q20 Net loss of $398.1 million narrowed year on year Reuters: survey shows that taxi app has not alleviated urban congestion Three quarters of LYFT users use ubersherpashare at the same time: survey shows that 90% of drivers drive for LYFT and Uber at the same time LYFT: it is estimated that young people in the United States will no longer buy cars in the next five years. LYFT IPO report – S-1 version predicts that LYFT will account for 1 / 3 of the U.S. market share by the end of 2017 Net dragon financial report: the total revenue of Q2 Netdragon in 2013 was 426.1 million yuan, with a year-on-year increase of 54.3% high-tech financial report: in Q3 of 2015, the net profit of Qualcomm was $1.2 billion, a year-on-year decrease of 47%. HP financial report: the revenue of HP in Q1 of 2015 was 26.8 billion US dollars, a year-on-year decrease of 4.7%. Yandex financial report: the net profit of Q2 yandex in 2013 was $89.1 million, with a year-on-year increase of 47%

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