Lyft Stock Drops After Q2 Results: Here's Why
1. Lyft's Q2 earnings were 10 cents per share, beating estimates. 2. Revenue of $1.58 billion missed analyst expectations of $1.61 billion. 3. Gross bookings hit a record $4.5 billion, up 12% year-over-year. 4. CEO stated marketplace is thriving, expanding through partnerships. 5. Stock fell 7.76% to $12.95 post-earnings announcement.