Uber made a comeback in 2023. The transportation and delivery platform now sports a market capitalization of $165 billion, making it one of the largest businesses in the world. Investors have heaped praise on the company and its new management team.But it seems like they forgot about the second player in ridesharing: Lyft (LYFT -0.56%). Lyft stock has underperformed since going public as it racked up operating losses. But after bringing in a new CEO from Amazon and trimming its operating expenses, the compa ...

Key PointsLyft reported strong Q4 2023 earnings, beating EPS expectations by 11 cents on 17% YoY bookings growth.Lyft saw driver a 47% increase in driver hours as they guaranteed drivers would earn 70% of the total fares paid by riders after external fees or they would make up the difference.Lyft expects to generate positive free cash flow for the full year in 2024 for the first time in its history, which sets the stage for profitability.5 stocks we like better than LyftRideshare operator Lyft Inc. NASDAQ: ...

Lyft CEO David Risher believes the government shouldn't be involved in the ride-share price-setting game.  "I think there's maybe a misunderstanding in the world that central governments can set prices in a way that works," Risher told FOX Business. The CEO was responding to the Minneapolis City Council voting to mandate a minimum wage for drivers and the Labor Department’s rule that would reclassify millions of gig workers as employees. Lyft has already said the department’s rule, which takes effect on Mon ...

Lyft has been sued by shareholders for securities fraud after a mistake in a recent earnings release about a key profit metric sent the ride-sharing company’s stock price on a wild ride up, and then down.In a proposed class action on Tuesday, shareholders said Lyft was careless in initially saying on Feb. 13 that one of its profit margins would expand in 2024 by 500 basis points, or 5 percentage points, when it actually expected 50 basis points.The mistake disclosed at 4:05 p.m. EST triggered a buying frenz ...

Ride-hailing, which involves booking transportation services via a smartphone app, is a two-horse race in the United States. Aside from legacy taxis, Uber Technologies (UBER -2.85%) and Lyft (LYFT 0.03%) are the dominant players. Uber is the market-share leader and an industry Goliath, while Lyft is a smaller competitor that might promise more upside as the underdog.Which stock is the better investment today? It's a head-to-head you don't want to miss.Uber's held onto its market share over timeUber and Lyft ...

Lyft Inc (NASDAQ:LYFT) was last seen up 5% to trade at $17.17, bouncing off a floor at the $15 level, with added support from the 20-day moving average. Today's jump comes after RBC upgraded shares to "outperform" from "sector perform," and lifted its price objective to $23 from $17. LYFT is pacing for its third-straight gain, poised to make another run at its Feb. 15 52-week high of $19.42, and has added more than 69% in the last nine months.This bull note could inspire other covering brokerages to change ...

SAN FRANCISCO--(BUSINESS WIRE)--Lyft, Inc. (“Lyft”) (NASDAQ: LYFT) today announced the pricing of $400 million aggregate principal amount of Convertible Senior Notes due 2029 (the “notes”) in a private offering (the “offering”) only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Lyft also granted the initial purchasers of the notes an option to purchase, for settlement within a 13-day period begin ...

SAN FRANCISCO--(BUSINESS WIRE)--Lyft, Inc. (“Lyft”) (NASDAQ: LYFT) today announced its intention to offer, subject to market conditions and other factors, $400 million aggregate principal amount of Convertible Senior Notes due 2029 (the “notes”) in a private offering (the “offering”) only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Lyft also expects to grant the initial purchasers of the notes ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-38846 Lyft, Inc. (Exact name of registrant as specified in its charter) Delaware 20-8809830 (State or other jurisdiction of incorpora ...

The interplay of finance and technology will lead to inevitable ups and downs for investors.gettyLyft’s LYFT fourth quarter earnings report contained an embarrassing typo earlier this week, accidentally tacking on an extra zero to one of its key financial forecasts. The company said a profitability metric would rise 500 basis points rather than 50. The blunder lit trading algorithms ablaze, sending Lyft’s stock price surging over 60% in after-hours trading. Within a day, cooler heads prevailed and shares ga ...