(AOF) – For the second quarter ended June 30, 2022, Uber’s rival Lyft reported adjusted net profit of $46.4 million, compared to an adjusted net loss of $18 million in the second quarter of 2021 Lyft’s stock was up 5.1% at $18.28 after the close on Wall Street on Thursday (August 4).
Net loss for the second quarter of 2022 was $377.2 million, compared to a net loss of $251.9 million for the same period of 2021. Net loss for the second quarter included $179.1 million of stock-based compensation and related payroll taxes.
Lyft raked in revenue of $990.7 million in the second quarter, up from $765 million in the second quarter of 2021, a 30% year-over-year increase.
Adjusted Ebitda was $79.1 million, an improvement of $55.3 million compared to the second quarter of 2022. Adjusted Ebitda for the second quarter of 2022 also exceeded the company’s guidance which s fell within a range of between 10 and 20 million dollars. The margin was 8.0%, compared to 3.1% in the second quarter of 2021.
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Threat to the European energy system
The leading importer of German gas, Uniper posts 54% of the volumes it buys from Russia. Following the war in Ukraine, the group had to acquire the volumes it lacked on the spot market, the prices of which had exploded. In difficulty, he requested aid from the German state, which raises concerns for all European energy companies. Nevertheless the German RWE and the French Engie reacted by arguing that their situation was very different. RWE stressed that it was less dependent on Russian gas. As for Engie, it benefits from the diversification of its sources of supply, with an increase in the volumes of LNG delivered to France and contracts with Norway and Algeria. The group has also adapted its hedging strategy to strengthen its resilience.