Lyft's results from third-quarter show signs of recovery
NEW YORK — Lyft is still feeling the pandemic’s severe impact on the ride-hailing industry but its third-quarter results show signs of a recovery from the previous three months when passengers stayed locked down.
The San Francisco-based company brought in $499.7 million in revenue in the three months that ended Sept. 30. That was down 48% from the same time last year.
But it was up 47% from revenue in the April-June quarter. And while the number of active riders plunged to 12.5 million in the latest quarter, down 44% from the same time last year, that figure was up 44% from the second quarter.
Lyft’s stock rose about 5.5% in after-hours trading following the release of the earnings report.
