Key facts
- Lyft reported Q2 revenue of $1.84 billion, exceeding estimates.
- Lyft forecast Q3 gross bookings between $5.5 billion and $5.67 billion.
- Lyft's Q2 gross bookings hit a record $5.50 billion, up 23%.
- Airbnb reported Q2 revenue of $3.61 billion, beating estimates.
- Airbnb expects 2026 revenue to grow 'at least mid teens'.
Lyft exceeded Wall Street's revenue expectations for the second quarter and projected current-quarter gross bookings above forecasts, signaling sustained demand. The company's revenue increased by 16% to $1.84 billion, driven by growth in higher-value services, international expansion, and strategic partnerships.
Lyft experienced strength across its U.S. rideshare, bikes and scooters, and European operations. The FIFA soccer World Cup provided a boost, particularly for airport rides and in host cities. The company is focusing on steering customers toward premium offerings and integrating its European acquisition, FreeNow by Lyft.
Gross bookings, a measure of total platform transaction value, reached a record $5.50 billion, a 23% increase. Adjusted core profit saw a 37% jump to $177.2 million. Partnerships, such as those with DoorDash and United Airlines, are increasingly contributing to rider acquisition, with about 30% of North American rideshare rides linked to a partner. Lower insurance costs also enabled increased spending on customer incentives.
Separately, Airbnb beat second-quarter revenue estimates with $3.61 billion, driven by strong global travel demand and a boost from first-time users during the FIFA World Cup. The company noted that North American bookings saw the highest growth in almost three years. Airbnb CEO Brian Chesky stated the company delivered some of its strongest results in years, with global nights and seats booked rising 10% to 148.3 million. Airbnb expects 2026 revenue to improve 'at least mid teens'.