Lyft Posts Record Earnings as Ride-Hailing Rebounds

Lyft Inc. jumped as much as 8.6% Friday and is on track for its best week in nearly two years on after reporting the highest earnings in its history.

The San Francisco-based ride-hailing company reported adjusted earnings, which strip out some costs, of $79.1 million in the second quarter, far surpassing the $18.1 million average analysts were expecting, according to data compiled by Bloomberg. Revenue rose 30% from a year earlier to $991 million.