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Lyft To Report First Quarter Earnings As A Public Company

Lyft will be reporting its first earnings call after trading hours on Tuesday.

The ridesharing firm went public in late March. The company has no history of profits but managed to finish moderately on the first day of trade. However, the shares went tumbling after that and Lyft investors had to face a loss below 30 percent after the first day of trade.

The company will be releasing its first earnings on Tuesday, as a public company. Analysts predict a huge loss on its first-quarter earnings, which is to be released after market close.

Co-founder John Zimmer has made it clear that the company has its focus for a longer period of three to five years.

Lyft stocks have not been performing well. Analysts predict that there will be no profit until 2022. The company has not fared well, even though the stock markets have touched new highs. Raymond James analysts believe that the company will come up with better numbers in the years to come.

Other tech IPO’s have done better. Zoom Video has seen soaring market rates, while Pinterest has been trading above its first-day trade. Lyft shares fell by 3 percent on Monday, closing at $60.6 per share.

Though Lyft investors have understood that the company will show losses, they focus on other growth metrics such as revenue per rider, the top-line revenue and an increase in its active riders.

If the company shows softness in these areas, the company shares will plunge further fear investors.

The first two-quarter results are important says Raymond James. They maintain a target of $85 on the shares of the company. Revenue expected is $745 million for the first quarter, while Wall Street predicts $740 million. The increase in active riders is expected at 41 percent from the previous year.

Rideshare drivers have planned for a strike on Wednesday, across the country.

Cecelia Wang
About Author
Staff Writer at Global Market News Wire

Cecelia serves as a Content writer in our organization for 3 years and has turned into a valuable asset for the team. She deals with writing all the updates and news related to the field of health. It comprises but not limited to device developments, initiatives & programs, informative articles, and much more. In her spare time, Cecelia likes to read novels, attends a few health-related courses, and visit NGOs to teach the kids the importance of good health.

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