Lyft forecasts strong quarterly earnings as ride-hailing demand picks up

FILE PHOTO: An empty Lyft pick-up area is shown as rideshare drivers hold a rally as part of a statewide day of action to demand that ride-hailing companies Uber and Lyft follow California law and grant drivers "basic employee rights'', in Los Angeles, California, U.S., August 20, 2020. REUTERS/Mike Blake/File Photo

(Reuters) -Ride-hailing company Lyft projected higher-than-expected gross bookings and core profit for the current quarter on Tuesday, driven by robust demand for its services and benefits from new user and driver features.

It also reported first-quarter revenue and profit above expectations, sending its share up 5% in extended trading.