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Lyft (LYFT) delivered a robust Q3 2025 performance with substantial upside across profitability and growth metrics. Aggressive execution of product, rewards, and partnership initiatives, especially in underpenetrated and high-value markets, underpinned momentum. The rideshare company also issued bullish Q4 guidance while reaffirming long-term targets, sparking a strong rally in shares.

• LYFT's GAAP EPS of $0.11 isn't comparable to the $0.24 consensus. However, adjusted EBITDA surged 29% yr/yr to a record $138.9 mln, near the high end of prior guidance, driven by record active riders, improved driver utilization, and expanded partnerships.
• Record Gross Bookings of $4.8 bln rose 16% yr/yr, fueled by double-digit rides growth, strong performance in underpenetrated U.S. markets, business and high-value segments, and recent acquisitions.
• Rides grew 15% yr/yr to 248.8 mln, marking the tenth consecutive quarter of double-digit growth, with notable strength from Lyft Silver and peak day records.
• Q4 guidance calls for Gross Bookings of $5.01-$5.13 bln (17-20% yr/yr growth), which is above expectations at the midpoint, and in-line adjusted EBITDA of $135-$145 mln, reflecting confidence in sustained acceleration.
• CEO David Risher reaffirmed long-term targets amid multiple growth catalysts including insurance reforms, global expansion, and new technology deployments.
• Autonomous vehicle progress includes scaling the Waymo partnership with integrated supply management in Nashville, leveraging LYFT’s Flexdrive for high vehicle availability and utilization, and plans for accretive economics and broader market expansion.

Briefing.com Analyst Insight:

LYFT’s Q3 results delivered clear strength in its core rideshare business, powered by network innovation, expanding global TAM via acquisitions, and meaningful traction with B2B, enterprise, and partnership channels. The bounce in margins and profitability underscores continued progress in platform economics, especially as insurance reforms begin to take hold and new business lines scale. The AV plans -- focused on practical, accretive partnerships -- should be watched for their long-term margin impacts but are not yet central to earnings. Competitive risks remain, especially with looming industry transitions and autonomous rollout costs, but LYFT’s multi-pronged growth strategy and global expansion provide several catalysts seem to justify premium sector consideration.