Lyft shares fall nearly 25% after forecasting revenue below estimates | CNN Business

Lyft\n \n on Thursday forecast current-quarter revenue below Wall Street estimates, blaming extremely cold weather in some of its major markets and lower prices, especially during peak hours, sending its shares down nearly 25% in extended trading. The company’s outlook was in contrast to that of its larger rival Uber\n \n , whose strong presence globally is helping it ride a boom in demand for ride-hailing services from travelers and office-goers Lyft’s bigger presence on the U.S.

Its forecast for first-quarter adjusted earnings before interest, taxes depreciation and amortization , a key measure of profitability that strips out some costs, was between $5 million and $15 million. For the fourth quarter, Lyft reported an adjusted EBITDA of $126.7 million, excluding $375 million it had set aside for increasing insurance reserves. Analysts had forecast $91.01 million.

Extremely cold weather should drive up their revenue, or at least ride volume. Think of how many people choose to grab a ride rather than walk to the bodega?

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Wall Street pros reveal their top defense stocks — and the same names keep coming upMarket players are turning bullish on aerospace and defense, revealing their favorite stocks within the theme. Really, how did this happen We aren't at war or anything. Why don’t we talk about Wall Street manipulating the stock market and all the corruption they do
La source: CNBC - 🏆 12. / 72 Lire la suite »

Awful stock market analysts, Wall Street economists are costing investors moneyI've been a Wall Street economist for 15 years. The deluge of crappy analysis being spouted by so-called 'experts' has never been worse. Thank you for saying this It could be said for journalism in general; political, financial, social, education, …, every aspect Folk chase the dollar their media business is after and not the integrity of their chosen field If you can convince people the market is going to crash, the market is going to crash. Sound like the media also.
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »

Fox Corp. Earnings: What Wall Street Likes About the Murdochs’ Latest MovesA plan for an increased stock buyback program as well as higher advertising revenue played well with investors and finance experts.
La source: THR - 🏆 411. / 53 Lire la suite »