Lyft has seen its shares fall sharply following quarterly results and forecasts that fell short of Wall Street's expectations. However, CEO David Risher pointed out that the company had just delivered a profitable first quarter, marked by 40% year-on-year revenue growth and a 17% increase in bookings and rides, generating $256 million in free cash flow.

Risher highlighted the strength of the business with improved service levels, shorter waiting times and more drivers. He also reiterated the Group's annual and medium-term forecasts. He also presented 'Price Lock', a new paid feature that allows users to set a price for regular journeys, with the option of paying a subscription to benefit from a constant price. This feature aims to alleviate one of the most unpleasant aspects of ride-sharing: dynamic pricing.

In addition, Lyft is also getting into mobile advertising, leveraging its first-party data from two million daily rides to offer a new type of advertising and media. On the other hand, faced with potential competition from Tesla in autonomous taxis, Risher remains confident, believing that Lyft will be a platform of choice in this segment.

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