Lyft says it will be profitable a year ahead of schedule, stock surges - Business Insider

The news sent Lyft shares surging as much as 11%, their biggest intraday increase since the stock's first day of public trading in late March. Uber's stock also got a boost, climbing almost 8% at its intraday peak.

"We've never laid out our path to profitability and we know that's a question on a lot of investors minds," CEO Logan Green said in a live interview at the conference. "We are going to be profitable on an adjusted EBITDA basis a year before investors expect us to."

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