Lyft Surges After Strong Quarterly Results Show Demand for Rides
- Ride-hailing company reports second quarter of Ebitda profit
- Drivers and riders are gradually shaking off pandemic fears
Photographer: Mike Coppola/Getty Images
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Lyft Inc. reported third-quarter revenue 73% higher than last year, boosted by demand for ride-hailing services amid improving Covid-19 conditions. The company also projected that it would turn a profit before tax, depreciation and other expenses for the full year.
The shares jumped 14% as the market opened in New York on Wednesday. Uber Technologies Inc. shares rose 5.5%.