Lyft rose about 6.7% before the market opened. Q1 results exceeded expectations and its guidance for the second quarter was optimistic.

Gelonghui, May 8 | U.S. ride-hailing giant Lyft (LYFT.US) U.S. stocks rose about 6.7% before the market opened, at $17.71

Gelonghui, May 8 | U.S. ride-hailing giant Lyft (LYFT.US) U.S. stocks rose about 6.7% before the market opened, at $17.71.
Lyft\’s first quarter revenue was US$1.277 billion, a year-on-year increase of over 27%. Market expectations were US$1.17 billion; adjusted earnings per share were US$0.15, exceeding market expectations of US$0.08.
The company recorded 188 million rides in the first quarter, an increase of 23% year-on-year; total bookings increased 21% year-on-year to $3.7 billion; and the number of active passengers increased 12% year-on-year to 21.9 million.
Lyft expects gross bookings in the second quarter to be about $4 billion to $4.1 billion, higher than market expectations of $3.98 billion.

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