US EditionLyft closes 28% higher after issuing buyback and posting bookings growth
- Lyft closed 28% higher on 2025-05-10 after increasing its share repurchase authorization and reporting strong bookings growth.
- The buyback decision followed the company’s robust cash generation near $1 billion annually and was not influenced by activist investor pressure.
- Lyft reported a 13% jump in gross bookings, doubled its Canadian business, plans to launch autonomous services soon, and serves 1.5 million drivers globally.
- CEO David Risher highlighted the company’s strong performance, noting that it facilitates more than 2 million rides daily and has experienced 16 straight quarters of growth, with ride numbers increasing over 16% compared to the previous year.
- These results suggest Lyft is strengthening its market position and preparing to benefit from shifts toward autonomous vehicles and global expansion.
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Lyft Accelerates: 13% Booking Growth Fuels Stock Rally as CEO Charts Global Expansion
Lyft’s Strong Performance Signals Resilience in Rideshare Market In a display of robust growth that defies broader economic concerns, Lyft has reported impressive quarterly results with gross bookings jumping 13% and shares surging in response. CEO David Risher, who has been at the helm for approximately two years, shared his optimistic outlook on the company’s trajectory during an appearance on CNBC’s “Squawk Box.” “So far, we’re not seeing any…
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