Lyft’s Fourth-Quarter Results Better Than Expected

Lyft reported fourth-quarter results that beat estimates for adjusted earnings per share and revenue, but said it had fewer active passengers than the previous quarter.

Shares fell more than 6% in after-hours trading after executives said the Omicron virus variant will affect first-quarter numbers.

Earnings per share were adjusted 9 cents, versus forecast 8 cents

Revenue: $970 million, compared to $940.1 million.

Lyft reported 18.73 million active riders in the fourth quarter of 2021, up nearly 50% year over year, but less than StreetAccount analysts’ expectations of 20.2 million riders for the quarter.

It’s down from the third quarter when the company said it had 18.94 million active passengers and hadn’t returned to pre-pandemic levels.

Lyft expects Omicron to lead to lower first-quarter results in 2022.

It forecasts first-quarter revenue between $800 million and $850 million.