Today’s value on Wall Street – Lyft blasts Q2 2022 adjusted EBITDA targets

(AOF) – The title Lyft (+ 13.28% to 19.70 dollars) has appreciated significantly on Wall Street after the company, great rival of Uber, published better than expected results in the second quarter. Adjusted Ebitda thus amounted to 79.1 million dollars, an increase of 232% compared to the previous year, and well beyond the 10-20 million dollars that the company had previously announced. Its turnover of 990.7 million dollars is up 13% compared to the previous quarter and 30% compared to last year.

For the second quarter ended June 30, 2022, Uber’s rival Lyft reported adjusted net income of $46.4 million, compared to an adjusted net loss of $18 million in the second quarter of 2021.

The net loss for the second quarter of 2022, on the other hand, was $377.2 million, compared to $251.9 million for the same period in 2021. The net loss for the second quarter included $179.1 million in compensation for basis of shares and related social charges.

Lyft raked in revenue of $990.7 million in the second quarter, up from $765 million in the second quarter of 2021, a 30% year-over-year increase.

Adjusted Ebitda was $79.1 million, an improvement of $55.3 million compared to the second quarter of 2022. The margin was 8.0%, compared to 3.1% in the second quarter of 2021.

“The outperformance of our Adjusted EBITDA in the second quarter reflects the fast and decisive actions strategy we implemented during the quarter to drive incremental growth and earnings,” said Elaine Paul, chief financial officer of Lyft. “We are confident in our ability to continue to navigate despite macroeconomic headwinds and deliver strong long-term business results.”