Lyft (LYFT) reported fourth-quarter 2023 earnings (excluding 25 cents from non-recurring items) of 19 cents per share, beating the Zacks Consensus Estimate of 8 cents. In the year-ago period, it reported a loss of 75 cents.Total revenues of $1.22 billion beat the Zacks Consensus Estimate of $1.21 billion. The top line rose 4.22% year over year, reflecting growth in the rideshare market. Active riders increased 10% year over year to 22.4 million, which is above our estimate of 22.2 million.Revenue per active ...

Lyft said stadium rides last year got a "lift" from high-demand concerts and sporting events. The ride-share company said Tuesday that "high-attendance stadium" events like "Eras Tour" shows by Taylor Swift, "Renaissance" performances by Beyoncé, the U.S. Open and NFL games helped the platform’s number of stadium drop-offs post an over 35% year-over-year increase in 2023. Late last month, Lyft reported the overall Lyft volumes a city experienced when Swift came to town averaged 7.6% larger than normal. Ride ...

A typographical error in Lyft’s earnings report released Tuesday sent the ride-sharing platform’s stock soaring before the company announced the corrected figures and issued a revised filing. Lyft’s initial report projected that one of its profit margin metrics was expected to grow by 500 basis points – a 5 percentage point increase – this year. This particular financial metric, the adjusted earnings margin as a percentage of bookings, effectively signals how large of a profit Lyft receives through its book ...

By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time.Access your favorite topics in a personalized feed while you're on the go. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewLyft's CFO can breathe easy — her boss isn't making her the fall person for a major earnings typo.Lyft CEO David Risher took full responsibility for the typo in the company's earnings release that ...

Lyft (LYFT 31.37%) stock is soaring in Wednesday's trading. The ride-hailing company's share price was up by 31.5% as of 1 p.m. ET, according to data from S&P Global Market Intelligence.Lyft published its fourth-quarter results after the market closed Tuesday, reporting earnings that beat Wall Street's expectations. In response to what turned out to be an error in the earnings press release, the company's share price initially rocketed more than 60% higher in after-market trading Tuesday. The original text ...

Lyft CEO David Risher took responsibility for the major error that appeared in the company's fourth-quarter earnings release late Tuesday, telling CNBC's "Squawk Box" that it's "super frustrating" for everyone on the team.Shares of the ride-sharing company soared more than 60% after the report first came out because the press release said Lyft would see margin expansion of 500 basis points, or 5%, in 2024, a huge increase for a business that has long struggled to turn a profit. During its quarterly call wit ...

A typo in Lyft’s earnings report overstated a key profit metric by a factor of 10 — sparking a 67% spike in its stock late Tuesday before management corrected the error and sent the shares tumbling.Late Tuesday after the close of regular trading, the ride-hailing app told investors in an investor slideshow that its gross margin was expected to rise by 500 basis points — or 5% — this year. On a conference call later, Lyft CFO Erin Brewer quickly backtracked on the forecast, telling analysts there was an ext ...

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Uber and Lyft’s most recent earnings reports spotlight a widening divergence in approach in business models.At first glance, there’s a core focus for both firms:That would be matching the supply and demand for movement, of course, for drivers and customers to link up across platforms. But beyond that broad concept, Uber and Lyft have taken different roads. Lyft is, arguably, in the transportation business, while Uber is increasingly endeavoring to broaden logistics and mobility, crafting end-to-end connecti ...

Shares in ride-sharing company Lyft (NASDAQ:LYFT) are rising 35% so far today despite the firm making a big mistake on its forward guidance. LYFT stock briefly jumped 60% after a press release on earnings goofed on describing future margin expansion. The original release misstated that margins would rise 5%. However, Lyft is actually projecting margins to rise just 0.5%. The company and Chief Financial Officer Erin Brewer called the mistake a typo. As a result, $2 billion in market capitalization had to be ...