Lyft Reports Strong Q3 Growth and Announces $500 Million Share Buyback Plan
Lyft (LYFT) reported robust third-quarter performance, highlighted by a 17% year-on-year increase in bookings and a 10% rise in total rides. The company reached record highs for both daily and weekly ride volumes in North America, supported by an active rider base of 31.6 million. Management also reported achieving record EBITDA and adjusted EBITDA figures during the period. Looking ahead, Lyft has outlined ambitious growth targets, aiming to surpass 1 billion rides by 2026. To enhance shareholder value, the company announced a plan to execute approximately $500 million in full-year share buybacks. This strategic move signals management's confidence in sustained operational momentum and cash flow generation.
Tickers: $LYFT
Topics: earnings report EBITDA revenue growth rideshare metrics
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