Lyft Inc.
said revenue increased 70% in the fourth quarter, as longer trips and higher fares offset weaker-than-expected ridership numbers.
The San Francisco-based company reported $969.9 million in revenue for the three months through December, beating the $941 million FactSet consensus.
Shares in Lyft dropped nearly 4% in after-hours trading Tuesday. They closed at $41.20.
Lyft reported adjusted earnings before interest, taxes, depreciation and amortization of $74.7 million for the latest period, roughly in line with expectations, helping it post its first annual positive adjusted Ebitda.
“We’ve been battle tested,” Lyft President
John Zimmer
said in an interview, adding that the…
