Bloomberg Talks Lyft CEO David Risher Talks Record Quarter, Spending to Grow
May 8, 2026
David Risher, CEO of Lyft, leads the ride-hailing company through international expansion and product strategy. He discusses record bookings and why Lyft is spending to grow. Topics include ride volume patterns and weather effects, autonomous vehicles as a growth vector, rewards and younger riders, overseas M&A, support for drivers amid fuel pain, and widespread AI adoption in engineering and support.
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Record Quarter Funds Growth Push
- Lyft delivered a record quarter with almost $5 billion in bookings, 37% year-on-year EBITDA growth, and $1.1 billion free cash flow.
- That strong cash generation gives David Risher room to invest in growth, including recent UK international acquisitions.
Strong Ride Volume Despite Weather Headwinds
- Lyft completed about 237 million rides in the quarter and hit its highest ride month ever in March despite early-quarter storm-driven slowdowns.
- Major events (Valentine's Day, St. Patrick's, Super Bowl) produced all-time ride highs, showing resilient demand patterns.
Use Partnerships To Replace Heavy Discounts
- Do leverage partnerships and rewards to reduce reliance on direct consumer incentives and raise margins.
- Risher cites alliances with United, Hilton, Alaska Airlines and DoorDash letting riders earn and spend points across platforms and back on Lyft.