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Lyft CEO David Richire poses a portrait in New York, USA, April 16, 2025.
Kylie Cooper | Reuters
Lyft Shares rose 28% on Friday after a ride sharing company raised Stocking Plan and post better than expected gross reservations.
The action celebrated its best day since February 2024.
During an interview with CNBC “Squawk box“CEO David Richire said the lift does not see” something to worry about, “despite the widespread concerns of the slow consumer against the background of continuing economic uncertainty.
“Our team is stronger than it used to be. Consumer search is absolutely there,” he said.
Gross reservations increased by 13% compared to a year to $ 4.16 billion, slightly winning a $ 4.15 billion estimate of Streetaccount. The company said the quarter is its 16th straight period of growth of gross reservations.
The vehicles increased by 16% to 218.4 million, exceeding the facts of 215.1 million.
Lift revenue increased by 14% during First quarter From a year ago to $ 1.45 billion, but they reached a $ 1.47 billion estimate of LSEG. The company reported a net income of $ 2.57 million, or 1 cent per share. This is a net loss of $ 31.54 million, or 8 cents per share a year ago.
The Council also allowed the intensification of the Redemption Plan for Lyft’s stock to $ 750 million from $ 500 million. The company said it aims to use $ 500 million next year.
5-day Lyft scheme
Investor activist capital said on Friday that he would Stop his campaign At Lyft and withdrew his nominations to the Board of Directors of the company, citing news of shares redemption.
“After a series of productive conversations, the board has taken an important first step, engaging in significant stock redemptions in the next quarters,” the founder and portfolio manager Arna Aidler said in a message.
Competitor’s shares to share a ride Uber decreased earlier this week after the publication of mixed The results of the first quarterS
Goldman Sachs upheld shares to purchase from neutral rating after report, citing the growth of rides and reservations and “strong performance of a stable industrial background”.