A ‘Clerical Error’ in Lyft Outlook Triggered 67% Jump
- Uber rival said it had highest annual ridership ever in 2023
- Bookings in fourth quarter rose 17%, beating analyst estimates
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It was, without a doubt, a strong earnings report.
Lyft Inc. projected adjusted earnings as much as 11% 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 Tuesday, were set to expand this year by an eye-watering 500 basis points. Shares surged, jumping 67% in after-hours trading.