Demand for rides, especially premium offerings, lifted average booking value and pushed the San Francisco company above Wall Street’s $5.36 billion forecast.
Lyft reported stronger second-quarter gross bookings (total value of rides booked), with the figure rising 23% to $5.5 billion. The San Francisco rideshare company said overall demand improved, particularly for its premium rides, while a higher average dollar value per ride helped drive the gain. The result came in above Wall Street’s forecast of $5.36 billion. Lyft’s shares were down 1.09%.