Lyft says May rides jump 26% from prior month

(Reuters) – Ride-hailing firm Lyft Inc (LYFT.O) said on Tuesday that rides on its platform rose 26% in May from the previous month, with strong growth from cities where coronavirus-induced restrictions have been eased.

Shares of the company rose 3.2% in extended trading.

Lyft expects adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) loss for the second quarter to not exceed $325 million if average daily volumes in June remain unchanged from May levels.

Rides have risen week-over-week for seven consecutive weeks since the week ended April 12, the company said.

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