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An error in Lyft’s earnings statement caused a brief 67% surge in shares before a clarification from Chief Financial Officer Erin Brewer in a conference call with analysts
:Lyft beat estimates for quarterly profit on Tuesday and said it would generate positive free cash flow for the first time in 2024, as it cut costs and became more competitive with larger rideshare rival Uber.Shares were up 17 per cent in late afterhours trade, despite a major gaffe: Lyft's said incorrectly
:Lyft beat estimates for quarterly profit on Tuesday and said it would generate positive free cash flow for the first time in 2024, as it cut costs and became more competitive with larger rideshare rival Uber.Shares were up 17 per cent in late afterhours trade, despite a major gaffe: Lyft's said incorrectly
Read the latest news about Lyft's stock surge of 67% due to a 'clerical error' in the company's outlook for profitability. Find out how the mistake overshadowed an otherwise strong earnings report and bookings projections. Learn more about Lyft's market share compared to Uber.
IT was, without a doubt, a strong earnings report. Lyft Inc. projected adjusted earnings as much as 11 percent higher than analysts’ estimates, and reported bookings ahead of expectations. And then there was the outlook for profitability: Margins, the ride-hailing provider said in an initial press release, were set to…