Lyft Q1 YOYBursztynskyCNBC 609M QoQ YOY: A Deep Dive, At the end of the first quarter of 2020, Lyft reported YOY (Year-over-Year) growth at 609 million USD in revenue, an impressive 72% increase from the previous year. According to a report from CNBC’s Jim Bursztynsky, this growth was largely expected due to Lyft’s ride-hailing segment, which accounts for 90% of its revenue. On top of this, the company reported a 26% increase in QoQ (Quarter-over-Quarter) growth due to its retained non-ride-hailing services.
The Ride-Hailing Segment
The strong backbone of Lyft’s revenue growth lies in its ride-hailing segment, with the total number of rides rising 18% YOY to 392 million. This is reportedly due to a 20% growth in active riders and a 14% increase in rides per active rider. This suggests that passengers are gradually becoming more comfortable with their ride-hailing experience. Furthermore, due to reduced competition (most notably from Uber’s exit from the Canadian market and several other states across the US) and decreased operational costs, Lyft has seen a decrease in the dollar amount lost per ride. This, in turn, has helped boost the company’s bottom line.
lyft q1 609m qoq 13.49m 12.8m
Though its ride-hailing business is the driving force behind its growth, Lyft’s non-ride-hailing services have also played a major part in boosting the company’s revenues. This includes services such as bike rentals, subscription plans, and its food delivery platform, Lyft Eats. While these services still pale in comparison to the ride-hailing segment, their combined QoQ growth of 26% suggests that they’re well on their way to becoming an integral part of the company’s business model.
Lyft’s Growth Europe
The company’s growth isn’t isolated to the US. In fact, the European market accounts for a significant portion of its success. According to the report, Lyft’s European ride-hailing ridership grew 48% YOY and its total European ride-hailing revenue rose 66%, accounting for 35% of the company’s overall revenues in the quarter. This suggests that Lyft’s operations in Europe are becoming increasingly profitable.
Conclusion
At the end of the first quarter of 2020, Lyft posted an impressive 72% increase in its YOY revenue, largely averaged by its ride-hailing segment. This growth was accentuated by its non-ride-hailing segment, which experienced a 26% growth in QoQ numbers. Additionally, Lyft’s success in European markets has also undoubtedly contributed to its overall success. It’s clear then, that the San Francisco-based ride-hailing giant is well on its way to becoming a major force in the industry.
Related FAQS
Q: What is Lyft’s overall revenue for Q1 of 2020?
A: Lyft reported 609 million USD in revenue for the first quarter of 2020.
Q: what is yandexcimpanuzdnet?
A: Yandex.Cimpanu is a European news site, founded by Romanian journalist Catalin Cimpanu. It provides news and analysis for tech and cybersecurity companies.
Q; what is q1 yoybursztynskycnbc 609m qoq yoy 13.49m?
A: Q1 YOYBursztynskyCNBC 609M QoQ YOY 13.49M is Lyft’s Q1 2020 total net revenue, with 609 million USD as year-over-year (YOY) growth and 13.49 million USD as quarter-over-quarter (QoQ) growth.
Q: what is lyft q1 609m qoq yoy 13.49m?
A: Lyft Q1 609M QoQ YOY 13.49M is Lyft’s Q1 2020 total net revenue, with 609 million USD as year-over-year (YOY) growth and 13.49 million USD as quarter-over-quarter (QoQ) growth.