Lyft Gears Up to Report Q4 Earnings: What's in the Cards?

Lyft LYFT is scheduled to report fourth-quarter 2024 results on Feb. 11, after market close.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The Zacks Consensus Estimate for fourth-quarter 2024 earnings has been revised 8% downward in the past 60 days. The figure is pegged at 23 cents per share. The consensus mark implies a 21% uptick from the year-ago actual. The Zacks Consensus Estimate for fourth-quarter 2024 revenues is pegged at $1.55 billion, indicating a 26.5% rise from the year-ago actual.Image Source: Zacks Investment ResearchLYFT shares have an impressive earnings history. It surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 68.9%.Lyft, Inc. Stock Price and EPS Surprise Lyft, Inc. price-eps-surprise | Lyft, Inc. QuoteGiven this backdrop, let us see how things might have shaped for Lyft this earnings season.We expect Lyft's performance in the to-be-reported quarter to have been boosted by an uptick in total revenues. Its top-line growth is likely to have driven by an increase in active riders as the ride-share market rebounds from the pandemic lows. The Zacks Consensus Estimate for active riders’ is currently pegged at 24 million for the fourth quarter of 2024, which implies a 7.1% year-over-year increase.The uptick in gross bookings, too, might aid results. The Zacks Consensus Estimate for gross bookings is currently pegged at $4.3 billion, implying a 16% year-over-year increase.  Low costs, owing to LYFT’s cost cutting efforts, might have aided bottom-line performance. High inflation might, however, hurt results in the to-be-reported quarter.What Our Model Predicts for LYFTOur proven model predicts an earnings beat for Lyft this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is precisely the case here. Lyft has an Earnings ESP of +4.12% and a Zacks Rank #3 presently. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Highlights of LYFT’s Q3 EarningsLyft reported third-quarter 2024 earnings of 29 cents per share which beat the Zacks Consensus Estimate of 20 cents and improved year over year. Revenues of $1.52 billion also outpaced the Zacks Consensus Estimate of $1.42 billion and improved 31.5% year over year, indicating growth in the rideshare market. Active riders increased 9% year over year to 24.4 million.Other Tech Stocks That May Beat Earnings Uber UBER has an Earnings ESP of +1.43% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.It is scheduled to post fourth-quarter earnings on Wednesday. The Zacks Consensus Estimate for earnings is pegged at 50 cents per share. UBER beat earnings estimates in three of the trailing four quarters and missed once, the average beat being 83%.DoorDash DASH has an Earnings ESP of +93.89% and a Zacks Rank #2 at present. It is scheduled to post fourth-quarter earnings on Feb. 11. The Zacks Consensus Estimate for earnings is pegged at 39 cents per share.DASH exceeded earnings estimates twice in the last four quarters, missing the mark on the other two occasions. The average miss is 86.2%.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Lyft, Inc. (LYFT): Free Stock Analysis Report Uber Technologies, Inc. (UBER): Free Stock Analysis Report DoorDash, Inc. (DASH): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks