Lyft beats third-quarter estimates, bookings underperform rival Uber

Lyft reported third-quarter revenue and profit surpassing estimates on Wednesday, but gross bookings growth was lower than larger rival Uber’s ride-hailing business.

Gross bookings, which is a metric Lyft started disclosing in the third quarter measuring total transaction value on its platform, grew 15% from a year earlier, compared with a 31% jump in Uber’s mobility business.