Reported 2 days ago
Lyft, Inc. (NASDAQ: LYFT) experienced a significant 28.08% rise in its stock price on Friday, closing at $16.65, following the announcement of profitability in Q1 with a net income of $2.6 million, reversing a $31.5 million loss from the previous year. Revenue increased by 13.5% to $1.45 billion, and gross bookings rose by 12.7% to $4.28 billion, driven by an increase in active riders. The company anticipates continued growth in ridership and gross bookings in Q2, emphasizing its strategic plans for expansion.
Source: YAHOO