Lyft reported record second-quarter results, with gross bookings rising 12% year over year to $4.49 billion and revenue increasing 11% to $1.59 billion, narrowly missing analyst projections. Adjusted earnings came in at $0.10 a share—more than double Wall Street expectations—while adjusted EBITDA jumped 26% to $129.4 million, giving the company a 2.9% margin on bookings. Net income reached $40.3 million, up from $5 million a year earlier, as active riders grew 10% to an all-time high of 26.1 million and completed rides rose 14% to 234.8 million. Management cited stronger marketplace dynamics, an expanding product mix and new partnerships with United Airlines and Baidu for the improved performance. Lyft closed its acquisition of European ride-hailer Freenow on 31 July, a move it says broadens its total addressable market ahead of the key summer travel season. The company also repurchased 12.8 million shares for $200 million during the quarter, using a portion of the $329 million in free cash flow it generated. Looking ahead, Lyft forecasts third-quarter gross bookings of $4.65 billion to $4.80 billion—up as much as 17% from a year earlier and above the $4.59 billion consensus—alongside adjusted EBITDA of $125 million to $145 million. The guidance suggests the ride-sharing platform expects momentum to continue despite a competitive U.S. mobility market and lingering macroeconomic uncertainty.