Million Reasons to Buy LYFT Stock

Lyft (LYFT) reported results that highlighted stronger momentum: active riders rose above 30 million for the first time, and gross bookings hit a record $5.5 billion. The company’s quarter also showed profitability gains alongside growth, helping the stock climb toward its highest level in the past six months, though it remains more than 30% below its 52-week high of $25.54. Lyft reported gross bookings up 23% year over year to $5.5 billion, with revenues up 16% to $1.8 billion. Net income increased to $50.3 million from $40.3 million. Adjusted EBITDA grew 37% to $177.2 million, and free cash flow totaled $319.6 million for the quarter.