Lyft Sinks on Disappointing Forecast, Surprise Revenue Miss

Lyft Inc. suffered its worst stock decline in more than a year after the rideshare firm issued a disappointing forecast that missed Wall Street expectations, a sign that its global expansion and new product offerings are not performing as quickly and as well as anticipated.

First-quarter adjusted Ebitda, or earnings before interest, taxes, depreciation and amortization, will come in between $120 million and $140 million, the company said in a statement on Tuesday. Wall Street was expecting $140.5 million. Fourth-quarter revenue also came in below expectations, rising 3% to $1.59 billion. Analysts had been looking for $1.76 billion.