Why Lyft Stock Was Climbing Today
LYFTLyft(LYFT) The Motley Fool·2024-05-09 01:42

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 ...