These 10 Stocks Moved the Market This Week, Here’s Why

4. Lyft, Inc. (NASDAQ:LYFT)

Lyft Inc. grew its share prices by 31.62 percent week-on-week, to end at $16.65 on Friday versus the $12.65 a week earlier after swinging to profitability in the first three months of the year.

According to Lyft, Inc. (NASDAQ:LYFT), it achieved a net income of $2.6 million during the period, a reversal from the $31.5 million net loss in the same period last year, as revenues grew by 13.5 percent to $1.45 billion from $1.277 billion year-on-year.

Gross bookings also grew by 12.7 percent to $4.28 billion from $3.69 billion in the same comparable period, supported by the increase in the number of active riders and ridership.

For the second quarter, Lyft, Inc. (NASDAQ:LYFT) expects ridership to grow by mid-teens, as well as gross bookings to settle between $4.41 billion and $4.57 billion, or a 10 to 14 percent growth year-on-year.

“With our expansion into new demographics via Lyft Silver and into Europe with our planned FREENOW acquisition, we’re putting all the pieces in place for sustained, market-leading performance,” said Lyft, Inc. (NASDAQ:LYFT) CEO David Risher.