来源：滚动播报 派珀·桑德勒将来福车目标股价从28美元下调至20美元。 ...

The countdown is on. Everything you need to get the edge at the end of the market day. Live from Studio two at Bloomberg headquarters in New York, I'm Katie Greenfield and standing next to me.Hello, Scarlet Fu. Hello. It's an it it's not even an ETF like you did, not even a monday.All right. We're kicking you off to the closing bell here in the US on this Tuesday with stocks mixed Right now, you do have the S&P 500 lower by a 10th of 1%, but we're still pretty much near record highs in terms of the gainers ...

Core Viewpoint - Lyft's stock dropped nearly 17% after the release of its Q4 earnings report, which fell short of analyst expectations [1] Financial Performance - Lyft reported Q4 revenue of $1.59 billion, a year-over-year increase of 2.6%, but below analyst expectations of $1.76 billion [1] - Total bookings for the period were $5.07 billion, reflecting a year-over-year growth of 19%, which met expectations [1] - The number of active riders reached 29.2 million, and total rides amounted to 243.5 million, both figures falling short of analyst forecasts of 29.5 million and 256.6 million respectively [1] Future Outlook - For Q1, Lyft expects adjusted EBITDA to be between $120 million and $140 million, while the average analyst estimate is $139.8 million [1] - The Lyft board approved a share repurchase program of up to $1 billion in an effort to boost market confidence [1]

Core Insights - Lyft reported revenue of $1.59 billion for the quarter ended December 2025, reflecting a year-over-year increase of 2.7% but falling short of the Zacks Consensus Estimate of $1.76 billion by 9.55% [1] - The company's EPS was -$0.20, a significant decline from $0.30 in the same quarter last year, resulting in an EPS surprise of -162.5% compared to the consensus estimate of $0.32 [1] Financial Performance Metrics - Gross Bookings were reported at $5.07 billion, slightly below the estimated $5.08 billion by analysts [4] - The number of rides taken was 243.5 million, which was lower than the average estimate of 256.43 million [4] - Active riders totaled 29.2 million, compared to the average estimate of 29.54 million [4] Stock Performance - Over the past month, Lyft's shares have returned -15.6%, contrasting with the Zacks S&P 500 composite, which remained unchanged [3] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential for outperformance in the near term [3]

智通财经APP获悉，Lyft Inc(LYFT.US)于 2026 年 2 月 10 日发布了 2025 年第四季度及全年财报，展现 出极具戏剧性的财务面貌。尽管公司在该季度录得创纪录的 27.6 亿美元 净利润，但这一巨额数字主要 源于一笔高达 29 亿美元的税收资产评估准备金释放，而非纯粹的经营增长。在核心业务层面，Lyft 第 四季度营收为 15.9 亿美元，虽然同比增长 2.6%，但未能达到分析师预期的 1.76 亿美元。由于营收不及 预期且对 2026 年第一季度的业绩指引疲软，公司股价在盘后交易中一度重挫约 15%。 在运营数据方面，Lyft 在 2025 年展现了强劲的市场渗透力。第四季度活跃乘客数量同比增长 18%，达 到创纪录的 2920 万人;全年总预订额达到 185 亿美元，同比增长 15%。尽管活跃度激增，但营收受到了 1.68 亿美元法律及监管准备金支出的直接拖累。此外，公司在 2025 年实现了 11.2 亿美元 的自由现金 流，这为其董事会批准新的 10 亿美元股票回购计划 提供了充足底气，旨在向市场传递管理层对公司长 期价值的信心。 Lyft 的业绩也可能让部分投资者失望，他们 ...

Core Insights - Lyft's stock fell 16% in after-hours trading following disappointing fourth-quarter earnings and a 2026 outlook that did not meet expectations [1] - The company's revenue increased by 3% to $1.59 billion, which was below the anticipated $1.76 billion [1] - Lyft's guidance for the first quarter indicated adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) between $120 million and $140 million, also missing analyst expectations [1] Financial Performance - Lyft reported a surprise operating loss of $188.4 million for 2025, attributed to increased competitive price promotions [2] - The company experienced an unexpected rise in competitors' promotional activities that negatively impacted quarterly results, as noted by CEO David Risher [2] Strategic Initiatives - Since David Risher became CEO in 2023, Lyft has focused on cost-cutting and introduced new products, including a price-lock feature for commuters [7] - Lyft's stock has seen an approximate 11% increase over the past year [7] - Risher outlined growth plans for 2026 and beyond, including the introduction of Black car rides and a service for teens, which are already offered by rival Uber [7] Future Expansion - Lyft is exploring the robotaxi market, collaborating with Waymo to integrate self-driving cars into its ride-hailing app in Nashville later this year [8] - The company faces challenges in the autonomous vehicle sector, with Risher indicating a limited number of suppliers capable of meeting Lyft's scale requirements [8] - Risher anticipates an increase in robotaxi availability by 2030, suggesting a positive outlook for future supply [9]

分组1 - Lyft reported a quarterly loss of $0.2 per share, missing the Zacks Consensus Estimate of $0.32, and compared to earnings of $0.3 per share a year ago, representing an earnings surprise of -162.50% [1] - The company posted revenues of $1.59 billion for the quarter ended December 2025, missing the Zacks Consensus Estimate by 9.55%, and this is an increase from year-ago revenues of $1.55 billion [2] - Lyft shares have declined approximately 14.3% since the beginning of the year, while the S&P 500 has gained 1.7% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.31 on revenues of $1.68 billion, and for the current fiscal year, it is $1.51 on revenues of $7.44 billion [7] - The Zacks Industry Rank indicates that the Internet - Services sector is currently in the bottom 37% of over 250 Zacks industries, suggesting that the industry outlook can significantly impact stock performance [8]

Core Insights - Lyft's CEO David Risher highlighted the company's achievements in 2025, emphasizing growth in gross bookings, profitability, and strategic expansions into Europe and autonomous vehicle markets [1][4][6] Financial Performance - Lyft reported a 19% year-over-year growth in gross bookings and an 18% increase in active riders, marking its most profitable quarter ever with over $1 billion in cash generated [2][6] - The company aims for $25 billion in gross bookings, a 4% adjusted EBITDA margin, and over $1 billion in free cash flow by 2027 [1][6] Growth Strategies - Key growth priorities include international expansion, partnerships (notably with DoorDash and United MileagePlus), higher-value ride offerings (up 50% YoY), and advertising initiatives [5][9] - Lyft launched Lyft Teen to facilitate safe independent travel for teenagers [8] Market Dynamics - Risher noted that the rideshare market is only 5% penetrated, indicating significant growth potential in the U.S. and Europe [7] - Lyft is welcoming taxis onto its platform in select cities, leveraging FREENOW's expertise in regulated markets to enhance global expansion [16] Autonomous Vehicle Strategy - Lyft is pursuing a hybrid network model combining human drivers and autonomous vehicles, expecting AVs to lower costs by approximately 20% per mile by 2030 [14][15] - The company is selective in AV partnerships, focusing on operational readiness and proven safety [15] Operational Improvements - Lyft experienced improved marketplace health, with record driver hours and reduced surge pricing during peak events like the Super Bowl [12][13] - California's insurance reform is expected to positively impact demand and pricing for riders [17] Loyalty Initiatives - Lyft is enhancing its loyalty programs, reporting a 31-point advantage in driver preference and increased activations in its business rewards program [18]

Financial Data and Key Metrics Changes - Q4 2025 saw accelerated Gross Bookings growth of 19% year-over-year, with record profitability, achieving over $1 billion in cash flow [5][11] - The company reported 51.3 million riders taking 946 million rides, marking a significant increase in user engagement [5][11] - Adjusted EBITDA margin is targeted at 4% with a goal of over $1 billion in Free Cash Flow by 2027 [6][7] Business Line Data and Key Metrics Changes - The rideshare business experienced an 18% year-over-year growth in Active Riders, indicating strong demand and retention [42] - Lyft's new product, Lyft Teen, aims to capture the teen market, enhancing customer base diversity [7] - Lyft Ads has reached a $100 million run rate, showcasing growth in advertising revenue [16][17] Market Data and Key Metrics Changes - The addressable market for rideshare is estimated at 300 billion rides in the U.S. and Europe, with Lyft currently capturing only about 5% [12] - The company is expanding its presence in Europe and enhancing partnerships, such as with DoorDash and United Airlines, to drive growth [13][14] Company Strategy and Development Direction - Lyft is focusing on customer obsession to drive profitable growth, emphasizing operational excellence and market expansion [11][12] - The company is investing in autonomous vehicles (AVs) to expand the total addressable market and reduce costs in the long term [18][29] - Lyft is also enhancing its loyalty programs to improve customer retention and engagement [68][70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational strength and market position, with expectations for continued growth in Gross Bookings and profitability [53][54] - The company anticipates that changes in California's insurance regulations will positively impact demand in the latter half of 2026 [65][67] - Management highlighted the importance of maintaining service quality in competitive markets, particularly where AVs are becoming more prevalent [56][58] Other Important Information - The company is strategically integrating Flexdrive to optimize fleet management and enhance operational efficiency [32][33] - Lyft is actively working on partnerships to leverage synergies and improve service offerings [47][50] Q&A Session Summary Question: Insights on product innovation and growth drivers - Management highlighted impressive results driven by customer obsession, with record driver hours and Active Riders growth [11][12] Question: Guidance for Q1 and margin expectations - Management indicated strong Gross Bookings growth, with profitability aligned with previous year’s margins, despite a favorable non-recurring item last year [25][26] Question: Long-term taxi opportunities - Management noted the strategic addition of taxis to the platform to enhance supply and improve market presence [46][49] Question: AV partnerships and market competition - Management clarified that the focus is on a limited number of deep partnerships to ensure operational success, with a long-term view on AV supply growth [78][80] Question: Flexdrive and its role in AV partnerships - Management discussed Flexdrive's potential to enhance operational efficiency and its integration with AV strategies [86][87]

Financial Data and Key Metrics Changes - In Q4 2025, Lyft reported accelerated gross bookings growth of 19% year-over-year, achieving record profitability with over $1 billion in cash flow [6][12] - The company closed the year with 51.3 million riders and 946 million rides, indicating a strong operational performance [6][12] - Adjusted EBITDA margin is targeted at 4% with a goal of over $1 billion in free cash flow by 2027 [8][53] Business Line Data and Key Metrics Changes - The rideshare business saw active riders grow by 18% year-over-year, marking a record high [43] - Lyft's new product, Lyft Teen, aims to capture the teen market, which consists of approximately 40 million potential users in the U.S. [8] - Lyft Ads has reached a run rate of $100 million, showcasing significant growth in the advertising segment [17] Market Data and Key Metrics Changes - Lyft has expanded its operations into Europe and is focusing on the autonomous vehicle (AV) market, which is expected to significantly increase the total addressable market (TAM) [7][19] - The company is also integrating partnerships, such as with DoorDash and United Airlines, to enhance its service offerings and customer engagement [14][16] Company Strategy and Development Direction - Lyft's strategy emphasizes customer obsession, operational excellence, and expanding partnerships to drive growth [12][14] - The company is focusing on margin expansion, particularly in high-value modes and through its acquisition of FREENOW [14][55] - Lyft aims to build a hybrid network that combines traditional rideshare with AVs, which is expected to lower costs and expand market reach [30][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate competitive pressures and highlighted the importance of maintaining service quality [56][59] - The anticipated demand increase in California is linked to recent insurance reforms, which are expected to enhance rider behavior and overall demand in the latter half of 2026 [65][67] - Management remains optimistic about the long-term growth potential of the rideshare market, particularly with the integration of AVs [19][30] Other Important Information - Lyft is actively working on loyalty programs to enhance customer retention, with a focus on business travelers and consumer cashback initiatives [68][70] - The company is addressing operational efficiencies and cost discipline to ensure sustainable growth and profitability [55] Q&A Session Summary Question: What worked this year on the product innovation side? - Management highlighted impressive gross bookings growth and record driver hours, attributing success to customer obsession and operational excellence [12][14] Question: Can you discuss the guidance for Q1 and margin expectations? - Management indicated strong growth in gross bookings, with profitability expected to remain stable year-over-year despite previous non-recurring items [26][27] Question: What is the long-term opportunity for taxis? - Management noted that integrating taxis into the platform adds supply and enhances market presence, particularly in regulated markets like Europe [47][48] Question: How is Flexdrive contributing to cost efficiencies? - Management explained that Flexdrive is expected to provide significant advantages in fleet management and operational efficiency, particularly as AVs become more prevalent [34][35] Question: What are the implications of AVs on the rideshare market? - Management emphasized that AVs will expand the TAM and reduce costs over time, positioning Lyft favorably in the evolving market landscape [30][31] Question: How is Lyft addressing competitive intensity in markets with AVs? - Management stated that Lyft's pricing strategy remains competitive, focusing on service levels and customer experience to differentiate from AV competitors [56][59]