LYFT Q1 Earnings & Revenues Miss, Gross Bookings Rise Y/Y

Core Insights - Lyft Inc. reported first-quarter 2025 earnings of 19 cents per share, missing the Zacks Consensus Estimate of 20 cents, but showing year-over-year improvement [1] - Revenues for the quarter were $1.45 billion, slightly below the Zacks Consensus Estimate of$1.46 billion, yet reflecting a 14% year-over-year growth [1] - Active riders increased by 11% year-over-year to 24.2 million, indicating growth in the rideshare market [1] Financial Performance - Gross bookings for the quarter were $4.16 billion, marking a year-over-year increase of 13$106.5 million, up 79.2% from the previous year, with an adjusted EBITDA margin of 2.6% compared to 1.6% in the prior-year quarter [2] - Cash and cash equivalents at the end of Q1 were $985.49 million, up from$759.32 million at the end of the previous quarter [3] Strategic Initiatives - Lyft's board authorized an increase in its share repurchase program to a total of $750 million, with plans to utilize$500 million within the next 12 months [4] - The company aims to expand into new demographics with Lyft Silver and plans to enter Europe through the acquisition of FREENOW [2] Q2 2025 Guidance - For Q2 2025, Lyft anticipates mid-teens year-over-year growth in rides, driven by strong service levels and increased engagement [5] - Gross bookings are expected to grow by 10-14% year-over-year, reaching between $4.41 billion and$4.57 billion [5] - Adjusted EBITDA is projected to be between $115 million and$130 million, with an adjusted EBITDA margin expected to range from 2.6% to 2.8% [6]