Lyft Belt-Tightening Aids Second-Quarter Results

Lyft said belt tightening amid rising inflation and slowing economic growth helped deliver a stronger-than-expected adjusted operating result.

The ride-hailing company on Thursday posted an adjusted operating profit for the second quarter, which strips out some items, of $79.1 million, well ahead of its own projection three months ago and Wall Street’s forecasts. Lyft still posted a wider net loss at $377.2 million compared with the year prior.