Lyft Rises Nealy 9% on May Ridership Figures, New EBITDA Forecast

Lyft (NASDAQ: LYFT) was a rideshare star on the stock market Wednesday, following the previous day's after-market release of its latest business update.

In that document, the company said its number of rides in May increased by 26% over the April figure. It also revised its adjusted EBITDA guidance for the current Q2; the company now believes the loss in that line item will not exceed $325 million, if average daily ridership for June matches May's level. Previously, Lyft guided for a maximum loss of $360 million.

Image source: Lyft.

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Source Fool.com