Lyft (LYFT) is scheduled to report fourth-quarter 2022 earnings on February 9 after the market close.
Investors will keep an eye on Lyft’s growth metrics such as revenue and positive passengers, as followers grow increasingly concerned about the company’s ability to compete with rival Uber.
Here are the numbers Wall Street expects from the ride-hailing company, compiled by Bloomberg:
Fourth quarter revenue: 1.16 billion USD expected
Q4 earnings per share (EPS): 13 cents expected
Q4 active riders: 20.3 million expected
Q1 revenue guide: $1.09 billion expected
This is expected to be a tough earnings cycle for Lyft. Recently, Gordon Haskett Analyst Robert Mollins downgraded the company from Buy to Hold, noting concerns about app downloads and increased competition from rival Uber (UBER). Mollins, who cut his share price target from $24 to $19, added that — compared to Uber’s more internationally distributed business — Lyft’s business focused in the United States, and more broadly, Lyft is more exposed to “turbulent America”. regulatory environment.”
However, Lyft can also win here, even if they are not really easy to achieve.
Bernstein analyst Nikhil Devnani writes Jan. 30: “Management’s revenue guidance looks conservative and in our view the top of the range is achievable,” the analyst said. Bernstein’s analysis Nikhil Devnani writes. America showing so far.”
Uber sets high standards
For its part, Uber reported Q4 earnings on Feb. 8, delivering key beats in both revenue and delivery bookings. Beating the company’s $8.61 billion Q4 revenue represents a 49% year-over-year increase. Shares of Uber were up about 5% throughout yesterday, falling very slightly in after-hours trading.
Meanwhile, Lyft’s stock is down more than 6% on Feb. 8. The company’s stock has fallen about 58% over the past 12 months, but should be up about 50% in 2023 so far.
“Investors will also be looking for updates on the timing and flow of cost-cutting,” Devnani writes. “Given that the stock is up 47% year-to-date, it may need to go up and down to maintain its momentum.”
Allie Garfinkle is a Senior Technology Correspondent at Yahoo Finance. Follow her on Twitter at @agafinks and more LinkedIn.
Read the latest financial and business news from Yahoo Finance
Download the Yahoo Finance app for Apple or Android
Follow Yahoo Finance on Twitter, Facebook, Instagram, flip chart, LinkedInAnd YouTube
