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Lyft hikes stock buyback program to $750M, swings to profit in Q1; shares jump

AuthorYasin Ebrahim
Published 08/05/2025, 22:22
© Reuters
LYFT
-0.56%

Investing.com -- Lyft on Thursday hiked its stock buyback program to $750 million as the ride sharing company swung to a profit in Q1. 

LYFT Inc (NASDAQ:LYFT) jumped more than 7% in recent afterhours trading following the report.

For the three months ended Mar. 31, the company reported earnings per share of $0.01, compared with a loss of $0.08 a year earlier, while revenue rose 14% to $1.5B. That compared with estimates for a loss of $0.02 on revenue of $1.46B. 

Active Riders growth jumped 11% year over year to 24.2 million, a record Q1.

"In the last week of March, rides reached the highest weekly levels in our history and dual-app drivers reported a 23 percentage point preference for Lyft," the company said.

For Q2, the company forecast gross bookings of approximately $4.41B to $4.57B, up 10% to 14% year over year. Adjusted EBITDA was expected to come in at approximately $115M to $130M

 

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