LYFT (NASDAQ:LYFT) surpassed third-quarter revenue and earnings estimates, announcing an adjusted EBITDA of $92.3 million alongside a revenue increase to $1.16 billion, a 10% rise year-over-year. This performance exceeded the anticipated $1.14 billion revenue target. Moreover, the company outdid earnings forecasts, achieving an adjusted profit of 24 cents per share, compared to the expected 15 cents.

The company recorded a 20% increase in rides from the previous year, totaling 187 million rides for the quarter. This boost was across their platform, including ride-sharing, bicycles, and scooters. Gross bookings for the quarter also went up by 15%, reaching $3.55 billion. LYFT reported an active rider count of 22.4 million for the quarter, a 10% increase from the prior year.

Looking ahead, LYFT anticipates fourth-quarter gross bookings to be between $3.6 billion and $3.7 billion.

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