Lyft CEO David Risher poses for a portrait in New York, United States, April 16, 2025.
Kylie Cooper | Reuters
Lyft Actions climbed 20% on Friday after the carpooling company increased its share buy -back plan and displayed raw reservations better than expected.
During an interview with CNBC’s “Squawk Box”, CEO David Risher said that Lyft saw nothing to “worry” despite the general concerns of a slowdown in the consumer in the midst of continuous economic uncertainty.
“Our team is stronger than ever, and consumer demand is absolutely there,” he said.
Gross reservations increased by 13% compared to a year ago to 4.16 billion dollars, slightly defeating an estimate of $ 4.15 billion in Streetaccount. The company said the quarter was its 16th consecutive period of growth in gross reserve.
The rides increased by 16% to 218.4 million, exceeding an estimate of the facts of 215.1 million.
Lyft revenues increased by 14% in the first quarter, from one year to $ 1.45 billion, but failed an estimate of $ 1.47 billion in LSEG. The company declared a net profit of $ 2.57 million, or 1 hundred per share. This represents a net loss of $ 31.54 million, or 8 cents per share, a year ago.
The board of directors has also authorized the increase in the Lyft share buy -back plan to $ 750 million, compared to $ 500 million. The company said it was aimed at using $ 500 million in the next year.
5 -day Lyft original group
The activist Investor Engine Capital said on Friday that he would stop his campaign in Lyft and take off his appointments from the company’s board of directors, citing the news of share buyback.
“Following a series of productive conversations, the Board of Directors made an important first step by engaging in major action buybacks in the coming quarters,” said Portfuille and director of portfolio Arnaud Ajdler in a statement.
The actions of the Uber carpool competitor decreased earlier this week after publishing mixed results in the first quarter.
Goldman Sachs improved actions to a purchase from a neutral note following the report, citing the growth of rides and reservations and “a strong execution in a stable backdrop of the industry”.
