Lyft’s shares fall as guidance for 2020 disappoints investors
The ride-hailing company has been punished for not promising profits sooner
12 February 2020 - 20:10
San Francisco — Lyft’s quarterly results and guidance for 2020 disappointed investors who punished the ride-hailing company for not promising profits sooner. The shares dropped more than 5% in extended trading.
Lyft’s results came a few days after larger rival Uber Technologies reported quarterly numbers that blew past analysts’ expectations and announced that it was moving up its target for profitability. The news sent Uber’s stock price soaring...
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