Lyft Posts Record Quarter, Sees Operating Profit of $1 Billion in 2024

Lyft Posts Record Quarter, Sees Operating Profit of $1 Billion in 2024
The Lyft Driver Hub in Los Angeles on March 20, 2019. Lucy Nicholson/Reuters
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Ride-hailing firm Lyft Inc. on Thursday forecast an adjusted operating profit of $1 billion for 2024 after reporting record earnings for the second quarter, betting on strength in the rideshare market as it rebounds from pandemic lows.

Lyft’s shares jumped more than 8 percent in extended trading, as the company also reported profit above Wall Street estimates on the back of soaring demand for rides and its cost-cutting efforts.