- Shares of Lyft fell Friday, a day after the company reported guidance for its first quarter of 2023 that was short of analyst expectations.
- Lyft’s CFO pointed to “seasonality and lower prices” to explain the guidance.
- Rival Uber, by contrast, posted its strongest quarter ever in its earnings report earlier in the week, sending its stock up.
Shares of Lyft
fell more than 35% when markets opened Friday, a day after the company reported guidance for its first quarter of 2023 that fell short of analyst expectations.
The company expects to bring in about $975 million in revenue in Q1, while analysts had been anticipating $1.09 billion, according to StreetAccount.
www.cnbc.com/2023/02/10/lyft-stock-down-more-than-30percent-.html
Views: