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Lyft sinks on disappointing earnings and lower-than-expected sales

Lyft reported its second-quarter earnings after the bell on Wednesday.

8/6/25 3:15PM

Shares of ride-hailing silver medalist Lyft are falling in after-hours trading on Wednesday following the release of the company’s second-quarter earnings.

The company posted revenue of $1.59 billion, shy of the $1.61 billion Wall Street expected. Its shares were down more than 7% after the bell.

Lyft reported:

Earnings of $0.10 per share vs. the $0.28 per share expected by analysts polled by FactSet.
Gross bookings of $4.49 billion, just shy of Wall Street’s expectations. Earlier this year, Lyft guided for $4.41 billion to $4.57 billion in gross bookings for the period.
And 26.1 million active riders, better than the 25.9 million expected by Wall Street and up 10% from last year.

Looking ahead to the current quarter, Lyft said it expects gross bookings in the range of $4.65 billion to $4.8 billion. Analysts expected $4.59 billion.

Like Uber, Tesla, and Alphabet’s Waymo, Lyft is racing to build out robotaxi services in the months ahead. Earlier this week, Lyft said it’s partnered with Chinese tech giant Baidu to launch robotaxi programs in Germany and the UK next year.

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JPMorgan strategist Arun Jain has flagged that retail traders instead appear to be “skipping the dip.”

“In contrast to the behavior observed during the post-Liberation Day selloff, retail investors did not seize the opportunity to buy-the-dip on Tuesday, with a few exceptions such as META,” he wrote of the day where the benchmark US stock index fell 1.2%. “In fact, they scaled back their ETF purchases and turned net sellers in single stocks.”

Then on Thursday, when the S&P 500 fell 1.1%, Jain projected that retail traders sold $261 million in single stocks. Through noon ET on Friday, his daily outflow estimate stands at $851 million.

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The move marks at least the third major equity raise, and dilution, for Archer this year. The company raised $300 million from a new stock sale in February, and sold $850 million worth of shares in June.

On Archer’s earnings call Thursday, interim CFO Priya Gupta said the company came to the decision after “substantial inbound interest.” According to Gupta, the company has heard from government and commercial partners that liquidity is a “key driver to their decisions of who to partner with.” With its latest share sale, Archer said its total liquidity is more than $2 billion.

Lyft sinks on disappointing earnings and lower-than-expected sales

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