Lyft shares fall after disappointing earnings report

After the end of trading on Monday, Lyft presented disappointing financial results for the third quarter, which showed that neither the company's profit nor the company's revenue fell short of analysts' forecasts.

In addition, Lyft reported 20.3 million active drivers, also less than the 21.1 million predicted. One way or another, revenue per active driver exceeded expectations.

The drop in Lyft shares after the end of trading on Monday was more than 8%.

Below are the company's actual results compared to analysts' expectations:

Revenue: $1.05 billion is the actual value; $1.06 billion is the expected value.

Earnings per share (EPS): - $1.18 is the actual value; $0.09 is the expected value.

The current results have not been the best for Lyft, a company often referred to on Wall Street as Uber's little brother. Last week, Lyft followed the trend of mass layoffs of workers in the technology sector, reporting a reduction of 13% of the company's current staff.

In addition, the pressure on Lyft is also exerted by the winning financial results of their main competitor, Uber. According to data released last week, Uber's revenue increased by 72% compared to the same period last year, despite the company's gross bookings falling short of the forecast value, and losses per share were higher than expected.

According to Dan Ives, senior equity research analyst at Wedbush, Lyft continues to be Uber's little brother, which is generally good prospects for Lyft, however, the company may stumble further.