US Stock Market Move | Q1 total bookings exceeded expectations, causing Lyft (LYFT.US) to surge over 18%.

On Friday, Lyft (LYFT.US) opened with a big gain of over 18%, the largest increase since November last year, reaching $15.41. In terms of news, Lyft's Q1 revenue increased by 14% year-on-year to $1.45 billion, slightly below analysts' average expectation of $1.47 billion; net profit was $2.6 million, compared to a net loss of $31.5 million in the same period last year; diluted earnings per share were $0.01, better than analysts' average expectation of a loss of $0.01 per share. Q1 total bookings increased by 13% year-on-year to $4.16 billion, slightly higher than analysts' average expectation of $4.15 billion; the number of rides increased by 16% year-on-year to 218 million rides, exceeding analysts' average expectation of 215 million rides; the number of active passengers increased by 11% year-on-year to 24.2 million. Lyft attributes its performance to the accelerated growth of active users. The company points out that it is expanding into markets with lower population densities like Indianapolis, and is also starting to offer higher-margin premium car services in more areas in the U.S.