Lyft, Inc. (NASDAQ: LYFT) reported a profit for the first quarter of 2025, compared to a loss last year, as the ride-hailing company’s gross bookings and rider base grew at a faster pace.
The company reported net income of $2.57 million or $0.01 per share for the first three months of fiscal 2025, compared to a loss of $31.5 million or $0.08 per share in the corresponding quarter of the prior year.
On an adjusted basis, first-quarter EBITDA increased to $106.5 million from $59.4 million in the prior-year quarter. The bottom line growth was driven by a 14% increase in revenues to $1.5 billion in Q1. At $4.2 billion, gross bookings were up 13% year-over-year.
Lyft’s CFO Erin Brewer said, “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.”