Lyft Forecasts Strong Q2 Bookings After Q1 Volume Miss
Lyft forecast second-quarter bookings above estimates on Thursday. Despite winter storms hitting Q1 volumes, revenue rose 14% on demand for premium offerings.
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Lyft forecast second-quarter gross bookings up to $5.43 billion, exceeding analyst estimates despite a first-quarter ride volume miss in the United States. Severe winter storms reduced first-quarter demand by 3 million rides, leaving total volumes at 236.9 million. Investors remain cautious as shares fell 3% late evening, reflecting concerns over long-term growth versus improving current financials.
