Lyft signals steady demand as second-quarter revenue tops estimates
LYFT•Third-quarter outlook and demand drivers
For the third quarter, the company forecast gross bookings of $5.5 billion to $5.67 billion, compared with Wall Street expectations of $5.57 billion.
"We're really seeing strength across our business. So the U.S. rideshare, our bikes and scooters business, our European business, we're seeing strength across all of those areas," CFO Erin Brewer told Reuters.
The FIFA soccer World Cup, held in the U.S., Canada and Mexico, lifted demand during the second quarter, especially for airport rides and in host cities.
Lyft has sought to improve growth and profitability by steering riders toward higher-value services, including premium rides, airport trips and chauffeur offerings, while also expanding its European operations through FreeNow by Lyft.
A year after closing its acquisition of European ride-hailing app FreeNow, Lyft said the business is performing better on an organic basis as the company integrates it into the global platform.
