Lyft Posts First Quarter Profit on Record Rides, Active Users

Lyft reported robust first-quarter 2025 results highlighted by record gross bookings of $4.2 billion, a 13% year-over-year increase, and rides growing 16% to 218.4 million, surpassing analyst expectations. The company swung to a net profit of $2.6 million, or 1 cent per share, compared to a loss the previous year, while revenue reached $1.45 billion, slightly below some estimates but indicating strong operational momentum. Active riders increased 11% to 24.2 million, and adjusted EBITDA hit a Q1 record margin of 2.6% of gross bookings, underscoring improved efficiency and profitability. CEO David Risher emphasized ongoing expansion, including targeting car-dependent regions and international growth through the upcoming FreeNow acquisition, which will add nine countries in Europe to Lyft's footprint. The company also raised its share repurchase authorization to $750 million, signaling confidence in its financial position, supported by nearly $1 billion in cash and short-term investments. Lyft projects continued growth for Q2, expecting gross bookings to rise between 10% and 14% and adjusted EBITDA between $115 million and $130 million.