Why Lyft (LYFT) Stock Is Trading Up Today
Shares of ride sharing service Lyft (NASDAQ: LYFT) jumped 37.7% in the morning session after the company reported fourth-quarter results indicating growing users, enabling it to beat Wall Street's revenue and EPS estimates. Rides growth accelerated for the fourth quarter in a row to 26% year on year in the quarter. Guidance for Q1 2024 came in ahead of expectations for gross bookings (from which the company generates revenue by taking a cut) and adjusted EBITDA, showing that both near-term growt