Lyft reports revenue growth but misses on passenger numbers.

• Lyft reported fourth-quarter earnings after-the-bell on Tuesday.
• In the last quarter of 2021, Lyft had 18.73 million active riders, which is lower than the previous quarter and did not meet analyst predictions.
• In Q1 2021, Lyft's net loss was $258.6 million, compared to a net loss of $458.2 million in the same quarter of 2020.

On Tuesday, the company reported its fourth-quarter results, which exceeded expectations on adjusted earnings per share and revenue. However, it stated that it had fewer active riders compared to the previous quarter.

The omicron coronavirus variant is expected to negatively impact first quarter earnings, causing shares to decline by over 6% in after-hours trading.

Here are the key numbers:

• The adjusted earnings per share were 9 cents, which is higher than the 8 cents expected by analysts in a Refinitiv survey.
• Revenue: $970 million vs $940.1 million expected by Refinitiv
• Active riders: 18.73 million vs 20.2 million expected, per StreetAccount
• According to StreetAccount, the actual revenue per active rider was $51.79, which exceeded the expected revenue of $46.54.

In the last quarter of 2021, Lyft had 18.73 million active riders, an increase of nearly 50% from the same period the previous year. However, this was below the StreetAccount analyst expectations of 20.2 million riders for the quarter. This is a decline from the third quarter when Lyft reported 18.94 million active riders and not yet back to pre-pandemic levels. In the fourth quarter of 2019, Lyft had 22.9 million active riders.

Lyft anticipates that the omicron surge of the Covid-19 pandemic will negatively impact its first quarter results in 2022, with revenue forecasted between $800 million and $850 million. This is lower than the analysts' expected guidance of $989.9 million, according to StreetAccount.

According to StreetAccount guidance, analysts anticipate the company to report 21.7 million active riders in the first quarter of 2022, despite the company not providing precise guidance on active rider projections.

Although there may be temporary challenges from omicron in the short term, we remain hopeful for a successful full-year 2022, said Lyft's new CFO Elaine Paul in a statement. However, the speed of recovery remains uncertain.

Lyft's revenue increased by 12% quarter-over-quarter to $969.9 million, representing a 70% year-over-year growth. The company attributed this growth to easy comparables due to the Covid-19 pandemic. Additionally, Lyft recorded a record revenue per active rider of $51.79, which is a 14% year-over-year increase.

Lyft's net loss for the quarter was $258.6 million, lower than the $458.2 million loss in the same period of 2020. The company attributed its loss to $164.2 million of stock-based compensation and related payroll tax expenses.

In the current quarter, Lyft reported an adjusted EBITDA profit of $74.7 million, which is an increase of $7.4 million compared to the prior quarter's adjusted EBITDA of $67.3 million.

Throughout the pandemic, the company has faced challenges with driver supply and demand disparities, resulting in increased expenses or extended wait periods.

During a call with investors, CEO Logan Green announced that Lyft's driver recovery rate remained stable in the quarter. Additionally, ride ETAs improved by approximately 30% in all of its operating markets. According to Paul, the number of active drivers reached a new pandemic high and is expected to continue despite the emergence of the omicron variant.

In the quarter compared to the previous year, Lyft reported that airport rides more than doubled.