Tenfold margin increase or not, Lyft has a scenic drive ahead - analyst

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 ...