Lyft in its second-quarter earnings release announced an upcoming partnership with United Airlines, but provided little additional details. The ride-hailing company until this past spring had a partnership with Delta Air Lines, but that carrier later switched to Uber.
Lyft CEO David Risher on a Wednesday evening earnings call said of the United deal that the company would "talk more about the specifics later this year when we launch it to consumers. But the headline there is we expect it to be industry-leading. You'll get points on every single ride, not just rides to the airport."
Risher added that United previously has not had a rideshare partner. Lyft "will be their first, and they're taking it very seriously," he said.
Lyft on Monday also launched its recently announced "cash back" opportunity on its Lyft Business Rewards Program.
The company also last week closed its acquisition of European taxi app Freenow, which it announced in April, and "when you think about that business, it's a taxi business across nine European markets," Lyft CFO Erin Brewer said. "Taxi tends to be a little bit more of an elevated experience. They have a heavy business travel population." Lyft's third-quarter guidance includes two months of that activity, Brewer added.
Lyft Q2 Metrics
Lyft reported second-quarter gross bookings of nearly $4.5 billion, an increase of nearly 12 percent year over year. Revenue was nearly $1.6 billion, up about 11 percent from a year prior. Net income was $40.3 million, compared with $5 million in Q2 2024. Active riders were at 26.1 million, up from 23.7 million during the same period last year.
The company's third-quarter outlook includes an increase in gross bookings of 13 percent to 17 percent year over year, with rides projected to grow in the mid-teens percentage.
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