Lyft said some of its costs to offer incentives to drivers—such as bonus payments for rides given—will be passed on to consumers through higher prices, while other costs will also weigh on the company’s profitability
Lyft said first-quarter revenue rose 44% to $876 million.Updated May 3, 2022 6:48 pm ET
Lyft Inc. said it would invest in the current quarter to ensure adequate driver supply and grow its ride-hailing platform, spooking investors as the spending weighs on operating profit. The ride-hailing company on Tuesday forecast adjusted earnings before interest, taxes, depreciation and amortization, its preferred metric of financial performance, of $10 million to $20 million. The figure represents a second sequential quarterly decline and missed Wall Street expectations by more than $50 million.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lyft stock plunges 25% after forecast, rider numbers come up shortLyft Inc. said Tuesday that it had a better-than-expected first quarter, with Chief Executive Logan Green saying ride-hailing volumes hit 'a new COVID high,'...
Read more »
Stocks making the biggest moves after hours: Airbnb, Lyft, Starbucks and moreSee which stocks are posting big moves after the bell.
Read more »
Crypto Stories: Ethan Lou shares experience of crypto conference in North KoreaCrypto is worldwide, even in North Korea. Canadian journalist Ethan_Lou recounts his experience attending a cryptocurrency conference in the country.
Read more »
Jessica Simpson shares pic ‘all glammed up’ with sister Ashlee for moms night outThe sisters and best pals are totally twinning in the beautiful photo.
Read more »
Consumer analyst shares advice on how to finance a college educationMany high school seniors now know where they're headed to college in the fall, but their next hurdle will be figuring out how to pay for it. We have expert advice from a consumer analyst:
Read more »
Blue Apron shares soar after $70.5 million in capital investment and refinancingBlue Apron Holdings Inc. undefined stock jumped 28.2% at the Monday opening after it announced capital investment and refinancing moves totaling a $70.5...
Read more »