Lyft Shares Surge Following Positive Q2 Forecast and Stock Buyback Announcement
May 9, 2025 - 05:54
Lyft has released its first quarter earnings report, revealing a mixed performance that has nonetheless excited investors. The company reported revenue of $1.45 billion, slightly below the anticipated $1.47 billion. However, it exceeded expectations on earnings per share (EPS), posting a profit of $0.01 compared to the expected loss of $0.68.
In addition to these results, Lyft showcased robust figures for gross bookings and rides, indicating a healthy demand for its services. A significant highlight of the earnings report was the announcement of a substantial $750 million stock buyback plan, which is likely to bolster investor confidence and support the stock price.
Looking ahead, Lyft has set an optimistic outlook for the second quarter, forecasting gross bookings between $4.41 billion and $4.57 billion, surpassing the market expectation of $4.48 billion. This combination of strong current performance and positive future guidance has contributed to a notable jump in Lyft's stock price.
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