Lyft, Inc. (LYFT) beat firstquarter earnings estimates, reporting $1.28 billion in revenue, and pushing the stock higher in extended trading hours. D.A. Davidson Senior Research Analyst Tom White sits down with Market Domination Overtime to discuss the ridehail company's latest earnings figures, as well as its growth in gross bookings and active rider counts.
"We're seeing Lyft kind of recapture some share, part of that is due to some lower pricing that David Risher, the CEO, kind of implemented when he assumed the reins," White explains. "We're just trying to get a sense of whether or not these share gains are really sustainable or is this just kind of an inevitable kind of bit of recovery from a relatively depressed level of category share, and it's going to be hard for them to kind of meaningfully get to where they were, maybe prepandemic."
White also weighs in on Uber's (UBER) earnings expectations as the Lyft competitor is scheduled to release results Wednesday morning.
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