Skip to main content

Lyft shares pull way back after CFO corrects major earnings release error

·1 min

Lyft shares surged in after-hours trading following the announcement of better-than-expected earnings. The company also revealed that it anticipates first-quarter bookings to exceed estimates. However, the stock experienced a significant drop after the CFO acknowledged an error in the earnings release, which resulted in a correction. Despite this setback, Lyft’s adjusted earnings per share surpassed analyst estimates. The company reported a revenue of $1.22 billion, in line with expectations. Despite its struggles since its IPO, Lyft’s stock has seen a significant increase, although it remains lower than its debut price.