Lyft CEO takes blame for 'extra zero that slipped' into earnings release
Publishing timestamp: 2024-02-14 12:33:02
Summary
Lyft CEO David Risher took responsibility for a major error in the company's fourth-quarter earnings release, where they reported an incorrect figure for margin expansion. The error caused Lyft's stock to initially soar, but it lost much of its gain after the correction. Despite beating analysts' estimates, Lyft's stock is still significantly below its debut price. Analysts at MoffettNathanson raised their rating on Lyft shares to neutral, citing improved "cost discipline" and "better-than-expected take-rates."
Sentiment: NEGATIVE
Tickers: LYFT,
Keywords: breaking news: business, breaking news: technology, business news, media, internet, technology, enterprise, lyft inc,
Source: https://www.cnbc.com/2024/02/14/lyft-ceo-takes-blame-for-extra-zero-in-q4-earnings-release.html