While DoorDash and Uber performed well in Q2, with the former reporting its value at $100 billion and the latter looking at a $20 billion shares buyback plan that would revitalize its position in the market, the shares of Lyft sank during the recent financial report. Ridesharing Forum has more.
The shares are sinking
In late August 6th trading, Lyft’s shares plummeted down after the ridesharing app reported revenue falling short of the big, bad wolf – Wall Street’s expectations, hindering its initiatives to further expand globally.
Specifically, the company posed a revenue of $1.59 billion in the three months, slightly missing the target of $1.61 billion. The shortcoming isn’t that huge, but they fell short of projections.
Also, despite the increase in the number of rides, those shares particularly fell to around 7.2 percent at around $12.97 in after-hours trading. Yikes!
This result could be attributed to the warning signs that the local economy has given. Just during the previous week, employment and labor market numbers were bleak, and inflation-adjusted consumer spending fell in the first half of 2025.
Also, what would have been a strong quarter had Lyft missing stuff. For instance, the company’s net income totaled $40.3 million in the second quarter, over double the $18.1 million that experts projected. Likewise, gross bookings gained only 12 percent from 2024.
However, Lyft is unfazed. In this third quarter, it is expecting its gross bookings to rise to as high as $4.8 billion and projected adjusted earnings of $125 million to $145 million.
New partnership with United Airlines
Nonetheless, Lyft is eyeing an impressive partnership with United Airlines. United Airlines is one of the biggest airlines in the United States, alongside American Airlines and Delta Airlines. It is headquartered in Chicago, and does both local and international flights.
“It’s going to be a great partnership. So, we just announced it yesterday. It doesn’t come into effect until later this year, but here’s what I can tell you. You’re going to get miles United plus, you know, Mileage Plus miles. And I’m a long time plus guy. I’m actually I’m stopping myself from telling you my Mileage Plus number because I don’t think the security guys would like that. But I know it so well, I can tell it to you,” Lyft’s CEO, David Risher, spoke with ridesharing media.
The terms of the partnership are still unclear, but Risher shared that it will be about offering more perks for travelers who book with United Airlines and Lyft.
“… That’s going to be great for riders,” the Lyft CEO told Ridesharing Forum. “And then they’ll get even more miles when they do what we call high margin or high value modes like Black or SUV, and it’s going to be great. And it’s great for United as well because it helps make their Mileage Plus program even more valuable.”