(Reuters) -Lyft ( LYFT ) gave a soft forecast for the current quarter ending September on Wednesday, taking the sheen off strong second-quarter results and sending its shares over 5% before the bell.

The company forecast gross bookings - the total value of transactions on the Lyft ( LYFT ) app excluding tips - between $4.0 billion and $4.1 billion, compared to analysts' consensus estimates of $4.13 billion from LSEG.

Adjusted core earnings guidance of $90 million to $95 million also came in below the street target of $104.3 million.

The projections come after Lyft ( LYFT ) reported better-than-expected revenue in the second quarter and posted a net profit for the first time, driven by a booming ride-share market and company-wide cost cuts last year.

The company's quarterly report, after rival Uber's strong results on Tuesday, underscores steady demand for ride-share services buoyed by summertime tourism and as people step out more for work and leisure events.

Revenue rose 41% to $1.44 billion in the quarter ended June 30, beating estimate of $1.39 billion. Net income was $5.0 million, compared to a $114.3 million net loss in the previous corresponding period when the company booked $46.6 million in restructuring-related charges.

Since CEO David Risher took charge last year, Lyft ( LYFT ) has cut hundreds of jobs, narrowed the firm's losses and managed to keep fare increases in check. The early efforts fueled a 36% surge in Lyft ( LYFT ) stock in 2023.

In June, Lyft ( LYFT ) hosted its first-ever investor day and projected annual gross bookings to grow at a steady 15% rate through 2027. It has also made a big push in advertising, a high margin business, with $50 million sales expected this year.