Lyft forecasts upbeat bookings for holiday quarter
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Lyft Inc forecasts fourth-quarter bookings between $5.01 billion and $5.13 billion, exceeding Wall Street estimates, driven by strong demand for its ride-hailing services. The company reported record Q3 revenue of $1.69 billion, up 10.7%, with high-margin premium rides growing 50%. Lyft's acquisition of Freenow is expected to add over six million riders by 2026, while its focus on business travel and underpenetrated U.S. markets contributed to ride growth. Adjusted core earnings for Q3 were $138.9 million, slightly below estimates.
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