Shares of ride-sharing operator Lyft Inc. (LYFT) performed well on the bourse on Jun 6, 2024, closing the trading session at $15.69 per share, up 1.03% from the previous day's closing. In fact, shares were up in excess of 10% at one point of time during yesterday's trading session. The upside was due to the rosy 2027 targets offered by management at its investor day conference.Lyft anticipates gross bookings compound annual growth rate of almost 15% between 2024 and 2027. Adjusted EBITDA margin (measured as ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Key TakeawaysLyft used its first investor day Thursday to predict its annual gross bookings will increase 15% per year through 2027.The ridesharing firm also gave guidance on future adjusted EBITDA margin and free cash flow conversion.Lyft also expects a big jump in how much it takes in for advertising on its app, in-car tablets, and top-of-car screens. Lyft (LYFT) shares gained Thursday as the ridesharing company gave an optimistic long-term outlook at its first investor day. The company said it expects gr ...

Lyft's first-quarter results show the company is getting past its early growing pains and figuring out how to make its operations profitable.Lyft's (LYFT -1.87%) 28% year-over-year jump in Q1 revenue is a strong indication that after a full year as CEO, David Risher has the company headed in the right direction. There are four key improvements worth noting from the company's recent quarterly report.1. More revenue and free cash flowRevenue rose 28% to $1.3 billion thanks to a 21% increase in gross bookings. ...

Ride-hailing platform Lyft said it wants to lift its driver’s earnings.Earlier this year, the company introduced a new standard for drivers, ensuring they will always earn 70% or more on fares per week, after external fees. If drivers are ever under 70% at the end of the week, Lyft pays them the difference.After launching this standard in 20 of Lyft’s top markets in February, the company is now offering the program to drivers across the country, according to a Tuesday (May 14) press release.“Lyft is the fir ...

Uber and Lyft are facing a trial in Massachusetts over allegations that they misclassified their drivers as independent contractors instead of employees.The trial is part of a larger legal and political battle over the status of gig workers in the state and across the nation, Reuters reported Monday (May 13).Massachusetts Attorney General Andrea Joy Campbell argues that drivers for the ride-share companies should be classified as employees under state law and therefore entitled to benefits such as a minimum ...

Lyft's quarterly earnings report again pleased investors.Shares of Lyft (LYFT -3.04%) were accelerating this week after the No. 2 ridesharing company reported strong results in its first-quarter earnings report, showing it's well on its way to being a growing and profitable company.Not surprisingly, Wall Street took notice of another round of solid numbers from Lyft, and one of the stock's top bulls lifted its price target on Lyft to $24, implying 39% upside in the ride-hailing stock. RBC sees Lyft going to ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________________________ FORM 10-Q _________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commissi ...

Lyft Inc. (LYFT) reported first-quarter 2024 earnings of 15 cents per share, which beat the Zacks Consensus Estimate of 9 cents and improved year over year.Revenues of $1,277.2 million also outpaced the Zacks Consensus Estimate of $1,170.1 million and improved 27.6% year over year, reflecting growth in the rideshare market. Active riders increased 12% year over year to 21.9 million.Gross bookings reported for the quarter were $3.69 billion, marking a year-over-year increase of 21%.Lyft’s adjusted EBITDA in ...

The ride-hailing stock reported solid revenue growth, and the future looks bright.Shares of Lyft (LYFT 5.42%) were moving higher today after the nation's No. 2 ridesharing company delivered solid first-quarter results, bouncing back from the pandemic and showing that recent cost-cutting efforts were paying off. As of 12:18 p.m. ET, the stock was up 5.5% on the news.Lyft is gaining steamThe ride-hailing specialist said gross bookings in the quarter were up 21% to $3.7 billion, driving revenue up 28% to $1.28 ...