The Lyft CEO, David Rise, poses for a portrait in New York City, USA, April 16, 2025.
Kylie Cooper | Reuters
Lyft The shares rose 28% on Friday after the shared travel company increased its sharing repurchase plan and published more anticipated gross reserves.
The action scored its best day since February 2024.
Duration An interview with “Squawk Box” of CNBC, the CEO David Rise, said that Lyft is not seeing “anything to worry about” despite the generalized conerns of a consumer decelerated in the midst of economic uncertainty in the coating.
“Our team is stronger than it has been, and consumer demand is absolutely there,” he said.
Gross reserves grew 13% for a year to $ 4.16 billion, slightly exceeding an estimate of $ 4.15 billion of the street account. The company said the quarter was its 16th consecutive period or gross reservations.
The trips increased 16% to 218.4 million, exceeding a data estimate or 215.1 million.
Lyft’s income grew by 14% of the first quarter for $ 1.45 billion for a year, but did not reach an estimate of $ 1.47 billion LSE. The company reported net income of $ 2.57 million, or 1 penny per share. That is above a fair loss or $ 31.54 million, or 8 cents per share, a year ago.
The Board also authorized the Boosting Lyft shares repurchase plan at $ 750 million from $ 500 million. The company said it aims to use $ 500 million during the next year.
5 -day lyft stock chart
The Motor Capital activist inverter said Friday that he would stop his campaign in Lyft and withdraw his nominations for the company’s board of directors, citing the news repurchase news.
“After a series of productive conversations, the Board has taken an important first step by committing to an important repurchase of actions in the next quarters,” said the founder and manager of the Arnaud Ajdler portfolio in a statement.
The actions of the Uber shared travel competitor decreased earlier this week after publishing mixed results of the first quarter.
Goldman Sachs improved the shares at a purchase of a neutral rating after the report, citing the growth of the walks and reserves and the “strong execution in a backdrop of the stable industry.”
