Lyft expects to turn cash flow positive this year for first time; shares surge By

-- reported Tuesday upbeat guidance saying it would be Top 100 global foreign exchange traders in 2019free cash flow positive this year for the first time, driven by cost cuts and rising demand for rides, after reporting fourth-quarter results that topped Wall Street.

LYFT Inc (NASDAQ:) jumped more than 52% in aftermarket hours.

The ride-sharing company said its start to 2024, paves the way for a "meaningful margin expansion and our first full-year of positive free cash flow," Lyft said in its Q4 report on Tuesday. 

Lyft reported a net loss of 26.3 million compared with a net loss $588.1 a year earlier, beating Wall Street estimates for earnings of $0.08 a share, while revenue of $1.22 billion was in-line with estimates.

Active riders on its platform jumped 10% to 22.4 million in the fourth quarter. 

For Q1, the ride-hailing company guided gross bookings of about $3.5B to $3.6B. 

Looking ahead, the company forecasts rides to grow in the mid-teens year-over-year, with gross Bookings growth expected to be slightly faster than rides growth year-over-year.

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