Ride-hailing app Lyft Inc. on Thursday offered up a second-quarter forecast for a key demand metric that came in slightly above Wall Street’s expectations, and its board approved an increase to its stock buyback plans based on what it characterized as strong demand.

Lyft increased its stock buyback program to $750 million and beat first-quarter profit estimates on Thursday, signaling steady demand for its ride-hailing services, sending its shares up nearly 8% in extended trading.

Lyft Inc. reported better-than-expected gross bookings in the first quarter, drawing a sharp contrast with the disappointing results issued by its much-larger ride-hailing rival Uber Technologies Inc.