Lyft Stock Pops 19% as Buyback, Ride Metrics Impress Wall Street

Lyft Inc (NASDAQ:LYFT) stock is up 19.5% to trade at $15.54 at last glance, after the ride-sharing company increased its share buyback program to$750 million. While first-quarter revenue missed estimates, rides jumped 16% year-over-year to 218.4 million, topping forecasts of 215.1 million. Gross bookings rose 13% to $4.16 billion, narrowly beating expectations, while active riders climbed 11% to 24.2 million. CEO David Risher noted this marked Lyft’s 16th consecutive quarter of double-digit gross booking g ...