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

Lyft Inc. (LYFT) reported first-quarter 2025 earnings of 19 cents per share, which missed the Zacks Consensus Estimate of 20 cents and improved year over year.Revenues of $1.45 billion missed the Zacks Consensus Estimate of $1.46 billion. The top line, however, improved 14% year over year, reflecting growth in the rideshare market. Active riders increased 11% year over year to 24.2 million.Gross bookings reported for the quarter were $4.16 billion, marking a year-over-year increase of 13%.Lyft, Inc. Price, Consensus and EPS Surprise Lyft, Inc. price-consensus-eps-surprise-chart | Lyft, Inc. QuoteLyft’s chief executive officer, David Risher, stated, "Q1 marked Lyft's 16th consecutive quarter of double-digit year on year Gross Bookings growth demonstrating the resilience and momentum of our customer-obsessed strategy. In the last week of March, rides reached the highest weekly levels in our history and dual-app drivers reported a 23 percentage point preference for Lyft. With our expansion into new demographics via Lyft Silver and into Europe with our planned FREENOW acquisition, we're putting all the pieces in place for sustained, market-leading performance."Lyft’s chief financial officer, Erin Brewer, stated, "Lyft’s exceptional Q1 performance – 16% Rides growth, strong profit expansion, and nearly $1 billion in cash from operations over the past 12 months – demonstrates our winning formula of growth with discipline. This financial strength enables us to increase the authorization of our share repurchase program to $750 million while maintaining the ability to invest in our most promising growth initiatives."Lyft’s adjusted EBITDA in the first quarter was $106.5 million, up 79.2% from the year-ago reported figure. The adjusted EBITDA margin (calculated as the percentage of gross bookings) was 2.6% compared with 1.6% in the prior-year quarter.Lyft exited the first quarter with cash and cash equivalents of $985.49 million compared with $759.32 million at the end of prior quarter. Long-term debt, net of the current portion at the end of the reported quarter, was $549.87 million compared with $565.96 million at prior quarter-end.Lyft’s board of directors has authorized an increase to its share repurchase program to a new total of $750 million. LYFT aims to utilize $500 million of this authorization within the next 12 months, with $200 million allocated to be used within the next three months.LYFT’s Q2 2025 GuidanceFor the second quarter of 2025, Lyft anticipates year-over-year growth in rides in the mid-teens, driven by industry-leading service levels, strong rider and driver growth, and increased engagement.Gross bookings are anticipated to grow almost 10-14% year over year, reaching $4.41-$4.57 billion.Adjusted EBITDA is expected to be between $115 million and $130 million, and an adjusted EBITDA margin (calculated as a percentage of Gross Bookings) is expected to be in the range of 2.6% to 2.8%.LYFT’s Zacks RankLyft currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Key Sectoral Player to Report Q1 ResultsWe note that another player from the broader Computer and Technology sector,Baidu BIDU, has an Earnings ESP of +8.67% and a Zacks Rank #3 at present. (See the Zacks Earnings Calendar to stay ahead of market-making news.)BIDU is set to report first-quarter 2025 results on May 21. The Zacks Consensus Estimate for first-quarter 2025 earnings is pegged at $1.96 per share. The consensus estimate indicates a year-over-year decline of 28.99%.Q1 Performance of a Computer and Technology CompanyUber Technologies UBER reported mixed first-quarter 2025 results, wherein earnings surpassed the Zacks Consensus Estimate but revenues missed the same. Quarterly earnings per share of 83 cents outpaced the Zacks Consensus Estimate of 51 cents. In the year-ago quarter, UBER incurred a loss of 32 cents per share.Total revenues of $11.5 billion missed the Zacks Consensus Estimate of $11.6 billion. The top line jumped 14% year over year on a reported basis and 17% on a constant currency basis.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Baidu, Inc. (BIDU): Free Stock Analysis Report Lyft, Inc. (LYFT): Free Stock Analysis Report Uber Technologies, Inc. (UBER): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks