Lyft Beats on Bookings, Adds New Riders
- Active riders increased at the fastest pace since 2022
- The company has upgraded its full-year free cash flow guidance
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Lyft Inc. reported first-quarter results and financial guidance that beat investors’ expectations, a sign of the company’s ability to retain and attract new riders in the US and Canada.
Gross bookings — a key industry metric representing the value of transactions for rides excluding tips — jumped 21% to $3.69 billion for the first three months of the year, the company said Tuesday, surpassing analysts’ estimates of $3.59 billion on average.