Lyft Reveals Strong Q1 Growth and Expands Buyback Program

Published 2 hours agoLYFT

Lyft Reveals Strong Q1 Growth and Expands Buyback Program

Lyft has reported impressive financial results for the first quarter of 2025, with a 14% increase in revenue to $1.45 billion compared to the previous year. This growth in revenue came with adjusted core earnings hitting $106.5 million, surpassing analyst expectations. Reuters noted these figures as a record performance for the company.

In addition to robust financials, Lyft is expanding its stock buyback program to a total of $750 million, planning to use $500 million of this within the coming year. This move comes in response to demands from activist investor Engine Capital, who influenced the decision by advocating for a faster stock repurchase or strategic alternatives, such as a potential sale. The stock market responded positively, with Lyft's shares jumping 10% in extended trading.

Additionally, Lyft is shifting its operational strategy by targeting smaller U.S. cities amid slowing growth in larger metropolitan areas. A significant increase was noted in Indianapolis, which saw a 37% rise in ride volume during the first quarter. This strategic redirection could harness untapped potential in underserved markets, aiming to sustain growth and shareholder value.

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