Lyft's Bookings Growth 🌟

Plus, Reddit's first-ever earnings.

Today is Wednesday, May 8, 2024.

The Early Bird Index today is 70.02.

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Lyft's Bookings Growth 🌟

Lyft (NYSE: LYFT) jumped 6.32% in after-hours trading on Tuesday after the ride-share company posted better-than-expected financial results.

Financials: Lyft reported a loss of 8 cents per share in the past quarter and revenue of $1.3 billion; both were better than expected.

Powering the Story: Gross bookings jumped 21% to $3.7 billion in the past quarter, which Lyft attributed to “strong demand.”

Final Thoughts: Lyft is still losing money, but the stock is up over 20% this year. It is only a matter of time before Lyft reaches profitability.

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Notable Earnings Today: ArmHoldings (Nasdaq: ARM), Uber Technologies (NYSE: UBER), TripAdvisor (Nasdaq: TRIP), Shopify (NYSE: SHOP), Robinhood Markets (Nasdaq: HOOD), Affirm (Nasdaq: AFRM), Airbnb (Nasdaq: ABNB), Instacart (Nasdaq: CART), AMC Entertainment (NYSE: AMC), Bumble (Nasdaq: BMBL), The Trade Desk (Nasdaq: TTD), Beyond Meat (Nasdaq: BYND), Duolingo (Nasdaq: DUOL), Teva Pharmaceutical (NYSE: TEVA), AppLovin (Nasdaq: APP), Anheuser-Busch InBev (NYSE: BUD), Fox Corp (Nasdaq: FOXA), New York Times (NYSE: NYT), HubSpot (NYSE: HUBS), News Corp. (Nasdaq: NWSA), Emerson (NYSE: EMR), Editas Medicine (Nasdaq: EDIT), Energy Transfer (NYSE: ET), ACM Research (Nasdaq: ACMR), Sunoco (NYSE: SUN), Autohome (NYSE: ATHM), Vista Outdoor (NYSE: VSTO), Sinclair Broadcast (Nasdaq: SBGI), Exact Sciences (Nasdaq: EXAS), Starwood Property Trust (NYSE: STWD), TKO Group Holdings (NYSE: TKO), Topgolf Callaway Brands (NYSE: MODG), ACADIA Pharmaceuticals (Nasdaq: ACAD), Amdocs (Nasdaq: DOX), Ardmore Shipping (NYSE: ASC), Avadel Pharmaceuticals (Nasdaq: AVDL), AZEK (NYSE: AZEK), B&G Foods (NYSE: BGS), Brinks (NYSE: BCO), Broadridge Financial (NYSE: BR), Cheesecake Factory (Nasdaq: CAKE), Choice Hotels (NYSE: CHH), Clarivate (NYSE: CLVT), Compass Minerals (NYSE: CMP), Cytokinetics (Nasdaq: CYTK), Dine Brands (NYSE: DIN), Encore Capital (Nasadq: ECPG), Everi (NYSE: EVRI), Griffon (NYSE: GFF), Hain Celestial (Nasdaq: HAIN), Holley (NYSE: HLLY), Ingredion (NYSE: INGR), International Money Express (Nasdaq: IMXI), International Seaways (NYSE: INSW ), Kennametal (NYSE: KMT), Klaviyo (NYSE: KVYO), Kornit Digital (Nasdaq: KRNT), LCI Industries (NYSE: LCII), Mannkind (Nasdaq: MNKD), MasterCraft (Nasdaq: MCFT), New Fortress Energy (Nasdaq: NFE), NiSource (NYSE: NI), Nu Skin (NYSE: NUS), ODP Corp (Nasdaq: ODP), OraSure (Nasdaq: OSUR), Paycor HCM (Nasdaq: PYCR), Payoneer Global (Nasdaq: PAYO), Performance Food Group (NYSE: PFGC), Perion Network (Nasdaq: PERI),  QuinStreet (Nasdaq: QNST), SiTime (Nasdaq: SITM), SolarEdge Technologies (Nasdaq: SEDG), Sunrun (Nasdaq: RUN), Supernus Pharmaceuticals (Nasdaq: SUPN), (Nasdaq: TBLA), TPG (Nasdaq: TPG), Traeger (NYSE: COOK), United Parks & Resorts (NYSE: PRKS), Valvoline (NYSE: VVV), Vericel (Nasdaq: VCEL), Vertex (Nasdaq: VERX), Vishay (NYSE: VSH), Wolverine World Wide (NYSE: WWW).

Notable IPOs Today: Nano Nuclear Energy Inc. Common Stock (Nasdaq: NNE).

Notable Equity Crowdfunding Campaigns Ending Today: The Pod Play Cafe (Honeycomb).

Notable Economic Events Today: Crude Oil Inventories (10:30 a.m. ET).

Reddit's First-Ever Earnings

The social media stock Reddit (NYSE: RDDT) surged by 14.64% in after-hours trading on Tuesday after posting its first financial earnings results since its IPO.

Financials: Reddit reported a loss of $8.19 per share in the past quarter, which was worse than expected. Revenue reached $243 million, which was better than expected.

Final Thoughts: The company benefited from record user traffic and a 48% increase in revenue. Can it continue to grow at the same rate?

Dutch Bros’ Sales Growth

Coffee chain Dutch Bros (NYSE: BROS) climbed by 8.44% in after-hours trading on Tuesday after the company posted strong financial results.

Final Thoughts: The company credited same-shop sales growth and strong new shop openings for the good results. Dutch Bros was down 8.5% in 2024 before these results.

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.