Lyft reports first-ever GAAP profit of $5M; Q2 revenue up 41% YoY, active riders hit 23.7M

Lyft, Inc.

2024-Q2 EPS reported -$0.07 revenue$2,713,047,000

Net income $5.0M vs loss $114.3M in Q2'23; first GAAP-profitable quarter.
Revenue $1.4B (+41% YoY); Gross Bookings $4.0B (+17% YoY).
Active riders 23.7M (+10% YoY); rides 205M (+15% YoY); all-time highs.
Adjusted EBITDA $102.9M vs $41.0M in Q2'23; free cash flow $256.4M.
Q3 outlook: Gross Bookings $4.0-4.1B, Adj. EBITDA $90-95M; FY24 free cash flow conversion >90% target ahead of schedule.

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