By Kelly Cloonan

Lyft logged higher revenue in its latest quarter as rides grew, helped by the ride-hailing platform's partnerships with a number of airlines and credit cards.

However, quarterly rides came in below Wall Street's forecast, with the San Francisco company citing a drag from winter storms.

Lyft's revenue climbed 14% in the first quarter, boosted by growth in both riders and rides. The results were bolstered by Lyft's partnerships with companies like DoorDash, United Airlines and Chase, which allow users to earn rewards points for partners' loyalty programs with Lyft rides. Nearly 27% of rides in North America were linked to a partnership in the quarter, marking an all-time high, Lyft said.

First-quarter profit came in at $14.3 million, or 4 cents a share, up from $2.57 million, or 1 cent a share, a year earlier. Analysts polled by FactSet expected earnings of 5 cents a share.

Revenue increased to $1.65 billion, compared with analyst estimates of $1.63 billion.

Lyft said active riders gained 17% to 28.3 million, compared with analyst projections of 28.5 million.

Rides rose 8.5%, to 236.9 million, compared with Wall Street's forecast of 241.2 million rides. The company said severe winter storms in the Northeast dented the metric's growth by more than 3 million rides during the quarter.

Gross bookings climbed 19% to $4.95 billion, compared with analysts' forecasts of $4.91 billion.

For the current quarter, Lyft expects gross bookings to rise 18% to 21%, to a range of $5.3 billion to $5.43 billion. Analysts are looking for gross bookings of $5.32 billion.

Lyft forecasts adjusted earnings before interest, taxes, depreciation and amortization of $160 million to $180 million for the second quarter, compared with analyst estimates of $168.2 million.

The company said it expects its fuel relief program to have an immaterial effect on its second-quarter results. The program, which started in March, offers cash back and rewards on gas to the company's drivers as the conflict in the Middle East drives up gas prices.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

May 07, 2026 16:05 ET (20:05 GMT)

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