Lyft (LYFT) Q2 FY2024 earnings: revenue $1.4 billion, up 40.6% on the year

Lyft, Inc. (LYFT) reported revenue of $1.4 billion for Q2 FY2024, the quarter ended 30 June 2024, up 40.6% on the same quarter a year earlier. Net income was $5 million, and diluted earnings per share $0.01. The figures are the company's own, from the 10-Q it filed with the SEC on 7 August 2024.

Revenue$1.4 billionup 40.6%

Net income$5 million

Diluted EPS$0.01

QuarterQ2 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Revenue	1,436	1,277	n/a	n/a
Cost of revenue	820	755	n/a	n/a
Gross profit	616	522	n/a	n/a
Gross margin	42.9%	40.9%	n/a
Research and development	98.8	100	n/a	n/a
Operating income	-27.2	-63.0	n/a	n/a
Operating margin	-1.9%	-4.9%	n/a
Interest expense	7.9	7.0	n/a	n/a
Pre-tax income	6.9	-28.9	n/a	n/a
Income tax	1.9	2.6	n/a	n/a
Effective tax rate	27.0%	n/a	n/a
Net income	5.0	-31.5	n/a	n/a
Net margin	0.3%	-2.5%	n/a
Diluted EPS	$0.01	-$0.08	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Operating cash flow	276	156	n/a	n/a
Cash from investing	-75.1	-242	n/a	n/a
Cash from financing	-35.5	-31.4	n/a	n/a
Depreciation and amortisation	37.7	32.4	n/a	n/a
Share-based compensation	85.7	80.1	n/a	n/a
Buybacks	0.0	50.0	n/a	n/a
Diluted shares, weighted	412m	402m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Shareholders' equity	578	491	n/a	n/a
Debt	1,008	971	n/a	n/a
Operating lease liabilities	113	125	n/a	n/a
Finance lease liabilities	65.1	60.7	n/a	n/a
Other liabilities	3,234	3,114	n/a	n/a
Total liabilities and equity	4,997	4,762	n/a	n/a
Goodwill	255	256	n/a	n/a
Intangible assets	51.3	55.6	n/a	n/a
Investments	1,196	1,158	n/a	n/a
Cash and equivalents	604	508	n/a	n/a
Other assets	2,890	2,785	n/a	n/a
Total assets	4,997	4,762	n/a	n/a

Questions

What was Lyft's revenue in Q2 FY2024?

Lyft (LYFT) reported revenue of $1.4 billion for Q2 FY2024, the quarter ended 30 June 2024, up 40.6% on the same quarter a year earlier.

How much did Lyft earn in Q2 FY2024?

Net income for Q2 FY2024 was $5 million, and diluted earnings per share $0.01.

When did Lyft report Q2 FY2024 results?

Lyft filed its 10-Q for the quarter ended 30 June 2024 with the SEC on 7 August 2024.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	1,158	1,225	1,277	1,436	1,523	1,550	1,450	1,588	1,685	1,593	1,650	1,844
Cost of revenue	644	744	755	820	888	875	863	936	927	972	864	926
Gross profit	513	481	522	616	634	676	587	652	758	621	786	917
Gross margin	44%	39%	41%	43%	42%	44%	40%	41%	45%	39%	48%	50%
R&D	109	95.2	100	98.8	104	93.8	112	109	110	120	124	119
Operating income	-40.2	-60.2	-63.0	-27.2	-56.7	28.0	-28.8	2.4	23.1	-185	-5.3	47.6
Operating margin	-3%	-5%	-5%	-2%	-4%	2%	-2%	0%	1%	-12%	-0%	3%
Interest expense	6.2	8.4	7.0	7.9	7.4	6.7	6.2	5.0	4.7	4.8	5.2	5.5
Pre-tax income	-12.0	-23.1	-28.9	6.9	-13.1	60.5	5.9	44.4	44.1	-148	19.8	78.4
Tax rate	n/a	n/a	n/a	27%	n/a	-2%	57%	9%	-4%	n/a	28%	36%
Net income	-12.1	-26.3	-31.5	5.0	-12.4	61.7	2.6	40.3	46.1	2,755	14.2	50.3
Net margin	-1%	-2%	-2%	0%	-1%	4%	0%	3%	3%	173%	1%	3%
Diluted EPS	-$0.03	-$0.05	-$0.08	$0.01	-$0.03	$0.16	$0.01	$0.10	$0.11	$6.59	$0.04	$0.13
Operating cash flow	2.3	43.5	156	276	264	153	287	344	291	246	308	350
Buybacks	0.0	0.0	50.0	0.0	0.0	0.0	0.0	200	200	100.0	300	100
Shares outstanding	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	399m	398m	380m	379m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2024, filed 7 August 2024, accession 0001759509-24-000102: the filing on EDGAR. All of Lyft, Inc.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install