Shares rise (Il Sole 24 Ore Radiocor) - New York, 06 Jun - US ride-hailing company Lyft said it expected its gross bookings to grow an annual 15% between 2024 and 2027.

In its first investor day, the company said it expected an adjusted core earnings (EBITDA) margin of around 4% on a full-year basis in 2027.

Free cash flow conversion (measured as a percentage of adjusted EBITDA) is expected to be more than 90% annually each year between 2025 and 2027.

It confirmed its outlook for the second quarter of this year and its directional commentary for the full-year.

'The financial targets we are announcing today reflect our expectations of healthy top-line growth and margin expansion as we deliver on our strategic priorities," CFO Erin Brewer said.

At 1358 GMT Lyft shares were up 10%.

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(RADIOCOR) 06-06-24 19:19:45 (0687) 5 NNNN