Why did LYFT's Q3 earnings exceed expectations?

Lyft's Q3 earnings exceeded expectations due to strategic initiatives and cost management: 1. **Strategic Initiatives**: Lyft has been focusing on expanding into new markets and enhancing its services. For instance, about 12% of all Canadians have already taken a LYFT ride, and Toronto has become the company's sixth-biggest market. This expansion into new geographic areas likely contributed to the revenue growth. 2. **Cost Management**: Lyft has been implementing cost-cutting measures, such as discontinuing dockless scooters and planning job cuts. These measures have likely improved profitability by reducing expenses. In summary, Lyft's Q3 earnings exceeded expectations due to a combination of strategic initiatives that boosted revenue and effective cost management.