Lyft said the last week of February was its best week in terms of volume since pandemic lockdowns began.
Lyft is enjoying a recovery in ridesharing sooner than it had anticipated.
In a filing with the SEC Tuesday, the company said that improving trends will allow it to narrow losses in the current quarter by more than it had previously hoped.
Lyft now expects to manage its adjusted EBITDA loss in the first quarter to $135 million, from the $145 million to $150 million it previously forecast.
The company said in the filing that the last week of February was its best week in terms of volume since pandemic lockdowns began in March of 2020.
Shares of Lyft jumped about 8% in the hours following the announcement.