Lyft (LYFT) To Report Earnings Tomorrow: Here Is What To Expect

Lyft (LYFT) To Report Earnings Tomorrow: Here Is What To Expect

Ride sharing service Lyft (NASDAQ: LYFT) will be reporting results tomorrow after the bell. Here's what to look for.

Lyft met analysts' revenue expectations last quarter, reporting revenues of $1.22 billion, up 4.2% year on year. It was a mixed quarter for the company, with solid growth in its users but slow revenue growth. It reported 22.4 million users, up 10% year on year.

Is Lyft a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Lyft's revenue to grow 15.9% year on year to $1.16 billion, improving from the 14.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.08 per share.

Lyft Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Lyft has missed Wall Street's revenue estimates twice over the last two years.

Looking at Lyft's peers in the consumer internet segment, some have already reported their Q1 results, giving us a hint as to what we can expect. DoorDash delivered year-on-year revenue growth of 23.5%, beating analysts' expectations by 2.5%, and Snap reported revenues up 20.9%, topping estimates by 6.6%. DoorDash traded down 10.3% following the results while Snap was up 27.5%.

Read our full analysis of DoorDash's results here and Snap's results here.

Investors in the consumer internet segment have had fairly steady hands going into earnings, with share prices down 1.5% on average over the last month. Lyft is down 2.6% during the same time and is heading into earnings with an average analyst price target of $17.1 (compared to the current share price of $17.36).

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