The ride-hailing company reported revenue of $1 billion for the quarter ending in March, marking a 14% year-over-year increase and beating Wall Street estimate’s. But the company forecast weaker-than-expected revenue for the current quarter, which was enough to jitter investors. Shares of Lyft plunged nearly 15% in after-hours trading Thursday following the earnings results.
On a conference call with analysts on Thursday to discuss the results, Risher said Lyft is currently at “an inflection point” as people return to pre-pandemic social habits. “I am very aware of our current levels of growth and profitability are not acceptable,” Risher said on the call, his first as CEO. “I am committed to growing Lyft into a large, durable, profitable business, that our riders, drivers and shareholders love, and I look forward to keeping you informed on our progress.
Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:
Nederland Laatste Nieuws, Nederland Headlines
Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.
White House unveils an AI plan ahead of meeting with tech CEOs | CNN BusinessThe White House on Thursday announced a series of measures to address the challenges of artificial intelligence, driven by the sudden popularity of tools such as ChatGPT and amid rising concerns about the technology's potential risks for discrimination, misinformation and privacy.
Bron: CNN - 🏆 4. / 95 Lees verder »
White House warns debt default could wipe out 8 million jobs, plunge stock market | CNN BusinessWhite House economists warned on Wednesday that a protracted debt default would cause the loss of more than 8 million jobs and cut the stock market in half.
Bron: CNN - 🏆 4. / 95 Lees verder »
First Horizon stock tumbles 50% after TD Bank merger collapses | CNN BusinessFirst Horizon and TD Bank have called off a $13 billion deal that would have formed America's sixth-largest bank, adding to the turmoil sweeping the country's regional lenders.
Bron: CNN - 🏆 4. / 95 Lees verder »
Why the Fed will likely raise rates two days after First Republic failed | CNN BusinessFor the second time this year, the Federal Reserve is gearing up to raise interest rates right after a bank failure.
Bron: CNN - 🏆 4. / 95 Lees verder »
Starbucks' new CEO lays out improvement plan | CNN BusinessDuring his first earnings call as the new Starbucks CEO, Laxman Narasimhan praised the company for its financial performance. He outlined how he thinks stores can better meet demand. He didn't mention the unionizaton drive sweeping through stores, however.
Bron: cnni - 🏆 326. / 59 Lees verder »