Lyft Stock Tanks As Weak Bookings Guidance Offsets First Quarterly Profit
LYFTLyft(LYFT) Investopedia·2024-08-07 23:39

Key TakeawaysLyft swung to its first quarterly profit, driven by record rides.Current-quarter bookings and adjusted EBITDA guidance both came up short of analysts' expectations.Lyft shares plunged 13% in intraday trading Wednesday. Lyft (LYFT) shares plunged 13% intraday Wednesday as disappointing guidance outweighed the ridesharing company's first quarterly profit and record ridership numbers. The company expects current-quarter bookings of 4billionto4 billion to 4.1 billion and adjusted EBITDA of 90millionto90 million to ...