Lyft shares sink 9% on underwhelming fourth-quarter results

Core Insights - Lyft shares fell over 9% following disappointing fourth-quarter results and weak bookings guidance as the company reduces prices to remain competitive [1][2] - The company reported revenues of $1.55 billion, slightly below the$1.56 billion expected by analysts [1] - Bookings totaled $4.28 billion, missing the$4.32 billion estimate from FactSet [1] Financial Performance - Lyft's revenue for the fourth quarter was $1.55 billion, which did not meet analyst expectations [1] - The bookings figure of$4.28 billion was also below the anticipated $4.32 billion [1] Future Outlook - The company anticipates a slowdown in gross bookings due to a lower pricing environment, projecting bookings between$4.05 billion and $4.20 billion, compared to a FactSet forecast of$4.24 billion [2] - CEO David Risher expressed optimism about the future, highlighting the large market potential and the company's performance [2]