Rideshare platform Lyft (LYFT) reported second-quarter earnings that beat expectations on both revenue and profit. The company posted revenue of $1.44 billion, topping estimates of $1.39 billion. Additionally, adjusted earnings per share (EPS) came in at $0.24, surpassing the projected $0.18.

Despite these positive results, Lyft shares are declining in Wednesday's trading. The stock's fall is attributed to the company missing on gross booking expectations and providing a weak third quarter guidance.

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This post was written by Angel Smith