LYFT
🚀 Lyft reported strong Q1 results with gross bookings of $4.16 billion, surpassing analyst expectations and contrasting with rival Uber’s performance.
📈 The company saw a 16% year-over-year increase in trips, reaching 218.4 million, also beating forecasts, and provided positive guidance for Q2 gross bookings between $4.41 and $4.57 billion.
💰 Lyft announced an accelerated and expanded share repurchase program, increasing its authorization to $750 million from $500 million, with plans to utilize $500 million in the next 12 months.
@bernardodegarcia:
“Let’s go with the shares of Lyft, which made a tremendous jump with very good quarterly results: gross bookings better than expected in the first quarter, which contrasts markedly with the disappointing results published by its much larger rival Uber a day earlier. Gross bookings for the first quarter were $4.16 billion, as Lyft reported in its statement, slightly exceeding the average analyst estimate of $4.14, if I remember correctly. Trips increased by 16% compared to the previous year, to 218.4 million, also above expectations. Lyft expects gross bookings for the current period to be between $4.41 and $4.57 billion, with a midpoint slightly above estimates. The company also announced an accelerated and expanded share repurchase program in line with a proposal made by its activist investor Engine Capital. The board authorized an increase in its repurchase to $750 million from $500 million. Remember that Lyft has a market capitalization of approximately $5.5 billion. It plans to use $500 million of the share repurchase authorization over the next 12 months.”
Watch the exact part of the video where @bernardodegarcia talks about Lyft here:
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Read more articles by the world’s top 100 analysts on Lyft (LYFT) at the following link. LYFT stock.
