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Lyft shares jump over 37%, retaining some gains after forecast error - TL;DR CNBC

Lyft shares jump over 37%, retaining some gains after forecast error

Publishing timestamp: 2024-02-14 10:15:19


Summary

Lyft shares traded over 37% higher on Wednesday after the company made a major error in its press release reporting its latest results. The error stated that the company was forecasting a 500 basis point expansion of its adjusted earnings margin for 2024, but the correct figure should have been 50 basis points. Despite the error, Lyft still outperformed analyst estimates and received positive feedback from analysts at TD Cowen.


Sentiment: MIXED

Tickers: LYFT

Keywords: earningsmarketsbreaking news: technologybusiness newstechnologybreaking news: marketslyft inc

Source: https://www.cnbc.com/2024/02/14/lyft-shares-up-16percent-in-premarket-trade-retaining-some-gains-after-forecast-error.html


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