About this content About Leo Grieco Leo joins us with a degree in Media Production from Bournemouth University. His work includes reporting for the UK editorial team and video editing for the broadcast team. He comes with an expertise in video editing and producing. Leo’s specialities include hospitality and leisure, support services, tech and video games. Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and fi ...

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 ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: In this Jan. 31, 2018, file photo, a Lyft logo is installed on a Lyft driver's car in Pittsburgh. Lyft shares jumped 62% after the bell Tuesday, Feb. 13, 2024 thanks in part to a typo in the the ride-hailing company’s earnings release that sent investors’ auto-trading algorithms — also known as “bots” — into a buying frenzy. Cre ...

ToplineShares of Uber and Lyft skyrocketed Wednesday after both firms projected stronger financial growth than expected, though Wall Street remains far more convinced about Uber’s prospects than Lyft’s.Shares of Lyft and Uber took off Wednesday.Getty Images Key FactsUber’s stock rose as much as 12% to above $77 shortly after market open after the company said Wednesday it expects higher-than-forecasted earnings growth over the next three years and will conduct $7 billion of share buybacks, the first stock r ...

The shares of LYFT Inc (NASDAQ:LYFT) are trading at their highest level since Dec. 18 this morning, last seen 30.4% higher to trade at $15.82 following a better-than-expected fourth quarter report from the ride share company. Lyft issued earnings of 18 cents per share, which beat estimates, while revenue was in line with forecasts at $1.22 billion. The company also issued strong guidance, but had to correct an overstatement regarding its margin forecast.At least 15 analysts hiked their price target on LYFT ...

Margin growth may not be surging tenfold in 2024, but the outlook on riding-hailing firm Lyft Inc (NASDAQ:LYFT) is rosy regardless. The US-listed mid cap erroneously reported a forecasted gross margin improvement of 500 basis points during its fourth-quarter earnings call on Tuesday, one zero more than the actual 50bps figure. Investors licked their lips and shares flew 60% higher to $19.7 in post-market trades in response, before correcting back to $14.73. That’s still a respectable 21% gain, and a justifi ...

A Lyft sign is seen in the pick-up area at JFK Airport in New York City on April 28, 2023.Lyft shares were 16% higher in premarket trade on Wednesday, retaining some gains after the company said it made a major error in a press release reporting its latest results, but still outperformed analyst estimates.A release initially said the company was forecasting a 500 basis point, or 5%, expansion of its adjusted earnings margin for 2024. The correct figure, the company clarified later, should have been 50 basis ...

Lyft says differentiated offerings on its app helped drive its annual ridership to the highest level in the company’s history.For full-year 2023, the rideshare platform had more than 40 million active riders, defined as riders who took at least one ride during that period, Lyft said in a Tuesday (Feb. 13) earnings release.In the fourth quarter, Lyft had 22.4 million active riders who took a ride during that three-month span, the release said. That total was up 10% year over year.“Continuous innovation gives ...

Key TakeawaysLyft shares gained nearly 16% in after-hours trading Tuesday after the ride-hailing company posted fourth-quarter earnings that came in ahead of estimates and issued better-than-expected current-quarter bookings guidance.The stock had skyrocketed more than 60% just after the earnings release owing to a mistake in Lyft's initial report, which the company clarified in its earnings call.The company said it expects to generate positive free cash flow for the first time in 2024.Lyft shares may encou ...