Lyft Corrects Earnings Margin Gain to 50 Basis Points From 500
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Lyft Inc. issued a massive correction to its outlook for earnings margin in 2024, saying its margin is expected to expand by 50 basis points — not the 500 basis points written into an earnings presentation released earlier on Tuesday.
“This is actually a correction from the press release,” Erin Brewer, Lyft’s chief financial officer, said in a call with analysts. “In my prepared remarks, I referenced 50 basis points of margin expansion.” A spokesperson for the company attributed the correction to a clerical error.