Lyft is trading 5.1% up now at $16.98 after investors digested its August 6 earnings report.
- Revenue reached $1.84 billion, gross bookings hit $5.5 billion, and active riders surpassed 30 million.
- GAAP EPS missed estimates, while management projected moderating bookings growth.
- Broader consumer-discretionary stocks are also benefiting from the unexpectedly weak July jobs report, reducing concerns about additional Federal Reserve rate hikes.