Lyft&#|Kadensa Capital Limited: Lyft's second quarter revenue growth

Kadensa Capital Limited information, Kadensa Capital Limited reported that Lyft, the US online ride-hailing platform, announced its second-quarter financial report, and its performance was better than expected. Affected by this news, Lyft's stock price rose 1% after the market.
【Lyft&#|Kadensa Capital Limited: Lyft's second quarter revenue growth】In the second quarter, Lyft's revenue was US$765 million, and each active rider contributed US$44.63 in revenue on average. In the second quarter, Lyft's adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) was $23.8 million. Lyft CEO Logan Green (Logan Green) said at the earnings conference: “For companies and the industry, this earnings report is a milestone. Looking ahead, we will continue to maintain positive EBITDA.” Lyft EBITDA in the second quarter Turn from negative to positive once.

Lyft&#|Kadensa Capital Limited: Lyft's second quarter revenue growth
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In the same period last year, Lyft's revenue was US$765 million. In the second quarter of this year, it increased by 125% year-on-year and 26% month-on-month. For the third quarter, Lyft expects revenue to be 850-860 million U.S. dollars.
According to Lyft, although the number of people infected with the new crown has increased, the demand for taxi rides has grown strongly in July. Lyft had 17.14 million active riders in the second quarter, 3.6 million more than in the first quarter. Despite this, Lyft has not been able to recover to the level before the outbreak. In the first quarter of 2020, Lyft had 21.2 million riders.
Lyft had a net loss of US$251.9 million in the second quarter and a net loss of US$437.1 million in the same period in 2020. However, the net loss in the second quarter included equity incentives and payroll tax expenses, which totaled approximately US$207.8 million.
So far, Lyft has unrestricted cash, cash equivalents and short-term investments of $2.2 billion, which is basically the same as the previous quarter.
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