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Lyft ( (LYFT) ) has issued an announcement.
On February 11, 2025, Lyft announced its first share repurchase program, authorizing the buyback of up to $500 million of Class A common stock. This move follows a record-breaking year in 2024, with Lyft achieving its highest-ever gross bookings, revenue, and rides, alongside its first full year of GAAP profitability. The company reported a significant 17% increase in annual gross bookings and a 31% rise in revenue, marking a notable financial turnaround with a net income of $22.8 million compared to a loss in 2023. These achievements reflect Lyft’s strengthened market position and operational success, further supported by improved driver preference and industry-leading service levels.
More about Lyft
Lyft is a prominent player in the rideshare industry, offering transportation services across the U.S. and Canada. Its focus is on delivering industry-leading service levels and enhancing both rider and driver experiences.
YTD Price Performance: 10.77%
Average Trading Volume: 14,587,284
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $5.88B
For a thorough assessment of LYFT stock, go to TipRanks’ Stock Analysis page.
