Lyft, Inc. (LYFT) reported second-quarter earnings for 2026 of 29 cents per share, missing the Zacks Consensus Estimate of 39 cents by 25.6%. However, revenues reached $1.84 billion, exceeding expectations by 1.8% and marking a 16.1% increase year over year. The company’s gross bookings soared to $5.50 billion, up 22.6% from the previous year, while Active Riders recorded a new high of 30.5 million.
Despite the positive revenue figures, Lyft faced rising operational costs, with total expenses increasing 13.3% year over year to $1.80 billion, driven largely by a 67.6% surge in sales and marketing expenses. Nonetheless, Lyft’s net income improved by 24.7% to $50.3 million, and adjusted EBITDA rose by 36.9% to $177.2 million, reflecting stronger profitability metrics.
Looking ahead, Lyft anticipates continued growth for the third quarter of 2026, estimating gross bookings between $5.50 billion and $5.67 billion, which indicates a year-over-year growth of approximately 15% to 19%. Additionally, adjusted EBITDA is projected to be between $183 million and $203 million.
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