Lyft Forecasts 15% Annual Growth Through 2027

Jun 6, 2024 By MarketDepth

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Lyft (LYFT) has forecasted a 15% annual increase in gross bookings through 2027 and its advertising business is expected to grow eight fold. Uber is still the powerhouse in the rideshare market across the USA but this bump will position Lyft to become a dominant competitor.

Lyft shares are up 3.6% intraday which also caused Uber to surge over 3% on the day as well.

The company is expecting $400 million in gross bookings from its advertising businessing in 2027 which is way up from the forecast for the current year of $50 million. Lyft just as Uber allows advertising on there mobile app, in vehicle screens and on top of vehicles. This is a significant source of revenue for both Lyft and Uber.