Consumer Discretionary

Lyft, Inc.(NASDAQ:LYFT) reported Q4 2022 revenue of $1.2 billion, up 21% year-over-year

February 9, 2023 – Lyft, Inc.(NASDAQ:LYFT)  announced financial results for the fourth quarter and fiscal year ended December 31, 2022. The company said it projects Q1 revenue of $975 million. Analysts polled by Capital IQ are looking for $1.10 billion. Revenue for the quarter ended Dec. 31 was $1.18 billion , Analysts polled by Capital IQ expected $1.15 billion. Q4 revenue per active rider was $57.72, up 11.5% year-over-year. Analysts polled by Visible Alpha expected $56.61. Fourth Quarter 2022 Highlights Revenue of $1.2 billion grew 21 percent from $969.9 million in Q4 2021. Relative to revenue of $1.1 billion in the third quarter of 2022, revenue grew 12 percent. We strengthened our insurance reserves and accrued and other current liabilities by $375 million, with $225 million reflected in cost of revenue and $150 million in general and administrative expenses. Net loss of $588.1 million compares with a net loss of $283.2 million

Lyft, Inc.(NASDAQ:LYFT) reported Q4 2022 revenue of $1.2 billion, up 21% year-over-year Read Post »

Ford Motor (NYSE:F) continues to sell Rivian (NASDAQ:RIVN) shares, its holdings fall to nearly 1%

Ford Motor Co (NYSE:F) further reduced its stake in electric car maker Rivian according to SEC public filings. Ford currently owns 1.15% of Rivian (NASDAQ:RIVN), or about 10.5 million shares, according to the filing. At the end of last year, Ford owned 86.9 million shares of Rivian Corp., equivalent to 9.49 percent of the shares.

Ford Motor (NYSE:F) continues to sell Rivian (NASDAQ:RIVN) shares, its holdings fall to nearly 1% Read Post »

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