What happened Shares of Lyft (NASDAQ: LYFT) climbed 5% on Wednesday after the ridesharing company posted expectation-topping fourth-quarter results. So what Lyft's revenue fell 44% year over year to $569.9 million, as COVID-19 continued to take a toll on its business. However, Lyft's revenue did rise 14% sequentially, as the economy recovered. Moreover, Wall Street had expected revenue of only $563 million. The ridesharing leader's losses were also better than expected. Lyft produced an EBITDA loss of $150 million, which was an $89.7 million improvement from the third quarter. It also bested analysts' estimates, which had called for an EBITDA loss of $185 million. Lyft's fourth-quarter results showed a marked improvement from prior quarters. Image source: Getty Images. With demand for rides reduced during the pandemic, Lyft has worked to cut expenses and lower its overall cost structure to weather the downturn. "Despite the difficult backdrop in 2020, we continued to focus on improving our business for the long-term," Lyft CEO Logan Green said in a press release. "The progress we've made has been significant and I believe we are now in a stronger position than at any time in our past." Now what Lyft expects coronavirus vaccination programs to accelerate the economy's recovery in the second half of 2021. In turn, chief financial officer Brian Roberts said Lyft could achieve adjusted EBITDA profitability as early as the third quarter, though he cautioned that doing so "would require a strong summer rebound." 10 stocks we like better than LyftWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Lyft wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source