Lyft Turns Profitable, Expands Buyback and Markets

Lyft achieved profitability in the first quarter of 2025, reporting earnings per share of $0.01, up from a loss a year earlier, and saw revenue rise 14% to $1.5 billion, though slightly below analyst expectations. Gross bookings totaled $4.16 billion and rides increased 16% year-over-year to 218.4 million, with active riders reaching a record 24.2 million. The company expanded its stock buyback program to $750 million, with $500 million to be used within the next year, partly in response to activist investor pressure. Lyft reported a 23-point preference among dual-app drivers and highlighted record ride activity in late March. The company is expanding into smaller U.S. markets and Europe to drive further growth, forecasting second-quarter gross bookings of $4.41–$4.57 billion. This performance contrasts with rival Uber, which reported weaker U.S. travel demand, amid industry-wide shifts as ride-hailing firms seek growth beyond major cities.