We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
The company has an impressive earnings surprise history, having surpassed Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 472.25%. The Zacks Consensus Estimate for LYFT’s soon-to-be reported quarter’s earnings is currently pegged at 19 cents per share, having been revised 5.6% upward in the past 60 days.
The Zacks Consensus Estimate for second-quarter earnings per share implies an uptick of 26.7% from second-quarter 2023 actuals. The Zacks Consensus Estimate for second-quarter revenues is currently pegged at $1.39 billion suggesting an uptick of 35.8% from second-quarter 2023 actuals.
Given this backdrop, let’s see how things have shaped up for Lyft this earnings season.
We expect Lyft's performance in the to-be-reported quarter to have been boosted by an uptick in total revenues. Its top-line growth is likely to have driven by an increase in Active Riders as the ride-share market rebounds from the pandemic lows. The Zacks Consensus Estimate for Active Riders’ is currently pegged at 23.8 million for the second quarter of 2024, which implies a 10.9% year-over-year increase.
A rise in costs is likely to have hurt the bottom line. High oil prices are likely to have led to elevated operating costs in the second quarter of 2024. High inflation too might have hurt the company's performance.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Lyft. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here. You can see the complete list of today’s Zacks #1 Rank stocks here.
Lyft has an Earnings ESP of 0.00% and a Zacks Rank #3 presently. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Highlights of Q1 Earnings
Lyft reported first-quarter 2024 earnings of 15 cents per share, which beat the Zacks Consensus Estimate of 9 cents and increased year over year. Revenues of $1.28 billion also outpaced the Zacks Consensus Estimate of $1.20 billion and improved 27.6% year over year, reflecting growth in the rideshare market. Active riders increased 12% year over year to 21.9 million.
Q2 Performances of Other Computer and Technology Companies
Alphabet’s (GOOGL - Free Report) second-quarter 2024 earnings of $1.89 per share beat the Zacks Consensus Estimate by 2.2%. The figure rose 31.3% year over year.
Revenues of $84.74 billion increased 14% year over year (15% at constant currency). Net revenues, excluding total traffic acquisition costs (the portion of revenues shared with Google’s partners and the amount paid to distribution partners and others who direct traffic to Google’s website) were $71.35 billion, which surpassed the consensus mark by 1.1%. The figure rose 15% from the year-ago quarter.
Amphenol’s (APH - Free Report) second-quarter 2024 adjusted earnings of 43 cents per share beat the Zacks Consensus Estimate by 4.88%. The earnings figure increased 19.4% year over year.
Net sales increased 18.2% year over year to $3.61 billion and beat the consensus mark by 7.02%. Organically, net sales increased 11%. The top line benefited from higher revenues across the IT datacom, defense, commercial air, mobile devices, mobile networks and automotive end-markets.
Image: Bigstock
LYFT Gears Up to Report Q2 Earnings: What's in the Cards?
Lyft (LYFT - Free Report) is scheduled to report second-quarter 2024 results on Aug 7, before market open.
The company has an impressive earnings surprise history, having surpassed Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 472.25%. The Zacks Consensus Estimate for LYFT’s soon-to-be reported quarter’s earnings is currently pegged at 19 cents per share, having been revised 5.6% upward in the past 60 days.
Lyft, Inc. Price and EPS Surprise
Lyft, Inc. price-eps-surprise | Lyft, Inc. Quote
The Zacks Consensus Estimate for second-quarter earnings per share implies an uptick of 26.7% from second-quarter 2023 actuals. The Zacks Consensus Estimate for second-quarter revenues is currently pegged at $1.39 billion suggesting an uptick of 35.8% from second-quarter 2023 actuals.
Given this backdrop, let’s see how things have shaped up for Lyft this earnings season.
We expect Lyft's performance in the to-be-reported quarter to have been boosted by an uptick in total revenues. Its top-line growth is likely to have driven by an increase in Active Riders as the ride-share market rebounds from the pandemic lows. The Zacks Consensus Estimate for Active Riders’ is currently pegged at 23.8 million for the second quarter of 2024, which implies a 10.9% year-over-year increase.
A rise in costs is likely to have hurt the bottom line. High oil prices are likely to have led to elevated operating costs in the second quarter of 2024. High inflation too might have hurt the company's performance.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Lyft. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here. You can see the complete list of today’s Zacks #1 Rank stocks here.
Lyft has an Earnings ESP of 0.00% and a Zacks Rank #3 presently. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Highlights of Q1 Earnings
Lyft reported first-quarter 2024 earnings of 15 cents per share, which beat the Zacks Consensus Estimate of 9 cents and increased year over year. Revenues of $1.28 billion also outpaced the Zacks Consensus Estimate of $1.20 billion and improved 27.6% year over year, reflecting growth in the rideshare market. Active riders increased 12% year over year to 21.9 million.
Q2 Performances of Other Computer and Technology Companies
Alphabet’s (GOOGL - Free Report) second-quarter 2024 earnings of $1.89 per share beat the Zacks Consensus Estimate by 2.2%. The figure rose 31.3% year over year.
Revenues of $84.74 billion increased 14% year over year (15% at constant currency). Net revenues, excluding total traffic acquisition costs (the portion of revenues shared with Google’s partners and the amount paid to distribution partners and others who direct traffic to Google’s website) were $71.35 billion, which surpassed the consensus mark by 1.1%. The figure rose 15% from the year-ago quarter.
Amphenol’s (APH - Free Report) second-quarter 2024 adjusted earnings of 43 cents per share beat the Zacks Consensus Estimate by 4.88%. The earnings figure increased 19.4% year over year.
Net sales increased 18.2% year over year to $3.61 billion and beat the consensus mark by 7.02%. Organically, net sales increased 11%. The top line benefited from higher revenues across the IT datacom, defense, commercial air, mobile devices, mobile networks and automotive end-markets.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.