🟦 𝐆𝐨𝐨𝐝 𝐍𝐞𝐰𝐬 𝐓𝐨 𝐖𝐚𝐤𝐞 𝐔𝐩 𝐭𝐨 (𝐟𝐨𝐫 𝐚 𝐜𝐡𝐚𝐧𝐠𝐞)

Lyft has reported disappointing third-quarter earnings results on Monday after the closing bell, with both earnings and revenue missing analyst estimates.

The ride-sharing company also reported 20.3 million active riders, less than the 21.1 million expected. Revenue per active rider beat estimates, however.

Shares of Lyft have dropped more than 8% in after-hours trading.

Here's what Lyft reported, as compared to analysts' estimates compiled by Bloomberg:

Revenue: $1.05 billion actual versus $1.06 billion expected

Adj. Earnings Per Share (EPS): -$1.18 actual versus $0.09 expected

Active Riders: 20.3 million actual versus 21.1 million expected

Revenue Per Active Rider: $51.88 actual versus $49.94 expected

“Lyft continues to be the little brother of Uber," Wedbush Senior Equity Research Analyst Dan Ives said last week on Yahoo Finance Live. "I think that’s been an issue for them ... Remember, Uber has the global platform and Lyft continues to be domestic. In theory, this bodes well for Lyft, but that’s one where the can continue to trip over their shoelaces."

𝐓𝐀𝐗𝐈 𝐋𝐄𝐀𝐊𝐒 𝐄𝐗𝐓𝐑𝐀 𝐁𝐈𝐓:

More good news to wake up to…

This morning, Lyft's shares were off more than 69% year-to-date. Meanwhile, the tech-heavy Nasdaq has declined more than 8.5% 

Plus Uber's shares are also down by about 30% during the same period.