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Yahoo Finance's Pras Subramanian breaks down Lyft second-quarter results.
BRIAN CHEUNG: And we're keeping an eye on earnings right now. And actually, we are seeing Lyft shares moving after they reported their second quarter earnings. Again, the shares currently in after hours trading up about 3%. Let's bring in Yahoo Finance's Pras Subramanian, who's been looking at the tape. Pras, Lyft numbers coming in.
PRAS SUBRAMANIAN: Yeah, Brian, up after hours here, what, almost 4% now. Yeah, it reported a top line and bottom line beat here. Revenue came in at 990.7 million. That beats estimates of 986.7 million there. But also, adjusted EPS of $0.13 a share, beating estimates of a loss of $0.05 a share. So there, unexpected surprise profit there on an adjusted basis.
Also, adjusted EBITDA, 79.1 million versus 18 million expected. So that's another big beat there. Active riders up to 19.9 million. That's up 16% over a year ago. Logan Green, the CEO of Lyft, said, we generated the highest adjusted EBITDA in our company's history and saw COVID highs for active riders, drivers, and rides. It's clear consumer transportation is a good long-term business with a massive addressable market.
So we haven't seen anything but guidance here about the revenue guidance for 2022. We'll keep an eye on that. Look through the report and hopefully hear more on the call. By the way, Lyft shares higher after hours here. Big beat on the-- big beat on revenue side, adjusted EPS side, and a big beat on adjusted EBITDA.
BRIAN CHEUNG: Yahoo Finance's Pras Subramanian, thank you so much. Yeah, 19.9 million riders, that's up 16%. That seems pretty good. What's also interesting about Lyft is that in the earnings report, it looks like management did say they feel confident in their ability to continue navigating macroeconomic headwinds, which does appear to acknowledge on their part that, yes, this is an environment where it's so uncertain if there is a recession, it's not necessarily all that clear that people won't be using Lyft or Uber as much as they are right now. But certainly, if you're not going to go out as much, maybe that is going to impact that.
DAVE BRIGGS: Yeah, look, still, people are-- and, you know, Dara Khosrowshahi talked about this after Uber earnings were relatively terrific, depending on your perspective. But then shares plummeted. People are still spending on travel. And that's where Lyft and Uber are taking advantage.
And both-- I'm surprised that both are doing well with drivers. Dara said with Uber, they have never had more share nor drivers making money, even pre-pandemic. And it looks like drivers are in awfully good shape at Lyft. And it's much favorable condition at both for the drivers.
BRIAN CHEUNG: Yeah, and the last point I'll make here is that with Lyft, it really is kind of just a raw look at the actual rides themselves because Uber's got Uber Eats and all this other stuff as well. So we'll continue to watch that. Coming up--