Movement Alert|Lyft, Inc. Rises 5.74% in After-Hours Trading, Positive Earnings Outlook and Autonomous Driving Partnership Boost Sentiment

Market Focus08-01

On August 1, Lyft, Inc. rose 5.74% in after-hours trading, reaching $16.79 per share, with turnover of approximately $3.58 million.

The move was driven by a combination of upbeat earnings expectations ahead of the company's August 6 quarterly report and a newly launched autonomous driving collaboration. Market consensus projects Q2 revenue growth of approximately 11.98% year-over-year, with expected EPS of $0.17, a significant improvement from the prior quarter's $0.04. Multiple institutions have recently upgraded their outlook, with Rothschild & Co Redburn raising its rating to Buy with a $22 price target.

Additionally, on July 28, Lyft's Freenow platform and Baidu's Apollo Go officially commenced autonomous vehicle road testing in London's Brent district using sixth-generation self-driving vehicles with onboard safety operators. The service is planned to open to public passengers in 2027, marking a substantial milestone in Lyft's international autonomous mobility strategy. The RT6 autonomous vehicles will operate alongside Freenow's existing taxi and private hire vehicle network.

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