REUTERS/Mike Blake Acquire Licensing RightsNov 8 (Reuters) - Lyft (LYFT.O) reported third-quarter revenue and profit surpassing estimates on Wednesday, but gross bookings growth was lower than larger rival Uber's (UBER.N) ride-hailing business.
"Softening macro conditions will likely impact Lyft more than its larger peer, Uber," said Angelo Zino, senior equity analyst at CFRA Research.
Brewer added that an improved mix of airport rides, scheduled rides and priority pickups also helped margin expansion.
Lyft forecast current-quarter adjusted core profit, a key profitability metric closely watched by investors, of $50 million-$60 million, higher than expectations of $48.8 million, according to LSEG data.
Lyft said it expects fourth-quarter revenue to grow in mid-single-digits sequentially, compared with market expectation of 4.6% growth, according to Reuters calculations.
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