Lyft Stock Surges 67% After Earnings Typo and Celebrity Boost
TL;DR
Lyft's stock surged 67% in after-hours trading after projecting adjusted earnings and margin expansion, but the company later corrected its statement, attributing the mistake to a "clerical error." Despite the error, Lyft reported strong earnings and bookings, signaling a potential turnaround in its efforts to challenge Uber. The company's fourth-quarter results showed growth in gross bookings and active riders, but it still lags behind Uber in market share. Additionally, Lyft is facing challenges from drivers preparing to strike over low pay and treatment by the app companies.
- A 'Clerical Error' in Lyft Outlook Triggered 67% Stock Jump Yahoo Finance
- Lyft shares up 16% in premarket trade, retaining some gains after forecast error CNBC
- Forget Lyft’s Earnings Typo. How Taylor Swift Helped the Ride-Hailing Stock Pop. Barron's
- Lyft stock soars thanks to Taylor Swift, Beyoncé and layoffs The Guardian
- Lyft’s gargantuan earnings error proves Wall Street should cut the jargon MarketWatch
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