Lyft's earnings report typo sends shares soaring

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 ...