Lyft to expand Waymo robotaxi fleet in Nashville by year-end
LYFT•Lyft plans to significantly grow its Waymo robotaxi fleet in Nashville by year-end and expects airport rides to launch soon. Its third-quarter adjusted core profit rose 47% to $203.9 million, above analysts’ $194 million estimate.
1. Nashville fleet expansion
Lyft plans to significantly grow the Waymo robotaxi fleet in Nashville by year-end. The company said airport trips in Waymo vehicles are coming soon.
2. Fleet servicing fees
Lyft earns revenue from rides booked through its app and from a per-available-vehicle fee for maintaining, charging and cleaning the fleet, CFO Michael Brous said. Its Flexdrive unit has serviced the Nashville fleet since June, and Lyft opened an 80,000-square-foot depot in the city in October. Brous declined to disclose fleet size or utilization figures.
3. Profit rises in quarter
Lyft’s adjusted core profit increased 47% year over year to $203.9 million in the third quarter, beating analysts’ $194 million estimate. Its fourth-quarter forecasts for gross bookings and adjusted core profit were broadly in line with Wall Street estimates. Brous said robotaxis would take “a long time” to scale meaningfully, citing hardware, regulation and operational challenges.
