Technology
North America
Quarterly Results
Lyft reported a 10.5% YoY increase in Active riders to 24.2mn, and a 12.7% YoY increase in Gross Bookings to $4,162mn in the first quarter of the year, which is typically a seasonally low period for the company. The platform facilitated 218mn rides, up 16.4% YoY. Adjusted EBITDA rose to $107mn, making an 80% YoY increase. Lyft stated that commute rides, the company’s primary segment, remains strong and are expected to continue growing in 2025, with more bike and scooter rides anticipated during the summer.