The quarterly net loss narrowed to 76 cents a share from $1.41 a share in the year-earlier quarter. Shares outstanding climbed 7.4% to 332.1 million.
"We beat our outlook across every metric," Logan Green, co-founder and chief executive, said in a statement.
The company's chief financial officer, Brian Roberts, said that Lyft drivers took in "record hourly earnings." The company statement didn't specify numbers.
Kenny Polcari, managing partner at Kace Capital Advisors, joined TheStreet to talk about the markets and take viewer questions.