Why Lyft Stock Leaped Today
Shares of Lyft (NASDAQ: LYFT) climbed 16.6% on Friday after the ride-sharing company said the number of both drivers and riders on its platform reached pandemic highs in the second quarter.
Lyft's revenue jumped 30% year over year to $990.7 million. The gains were driven by a 15.9% rise in active riders, to 19.86 million, and an 11.8% increase in revenue per rider, to $49.89.
"Active riders and rides both hit post-COVID highs with rideshare rides up 27% year over year," CEO Logan Green said in a press release.
Source Fool.com
