Lyft stock

Lyft (LYFT) shares sinks more than 25% premarket after mixed Q1 earnings results. Adjusted EBITDA for Q1 was $54.8M, an improvement of $127.8M compared to ...

- The company guides Q2 revenue of $950M to $1B vs. We also expect to strategically invest in key business initiatives to support our continued growth.” - Adjusted EBITDA for Q1 was $54.8M, an improvement of $127.8M compared to Q1 2021.

Great Hill Capital Chairman Thomas Hayes and Meridian Equity Partners' Jonathan Corpina unpack the first-quarter drop in GDP, cast projections amid growing ...

Ridership is typically lower in the first quarter with demand for ride-hail, bike and scooter trips declining during the colder months. Lyft said it expected adjusted EBITDA, a metric that excludes stock-based compensation and some other costs, of between $10 million and $20 million in the second quarter. One executive said Lyft would use higher prices to help finance some spending on drivers. That is significantly below the $54.8 million it reported on Tuesday for the first three months of the year. The quarterly report also spooked investors in rival Uber Technologies Inc, which fell 11% in after hours trade following Lyft's report. Lyft and Uber have tried to lure back drivers with added incentives in recent quarters. Average U.S. per-ride prices for Lyft and Uber were 37% higher in March than during the same month in 2019, according to research company YipitData. Lyft and Uber have instituted a temporary fuel surcharge in an effort to help drivers. Lyft executives declined to provide cost details for driver incentives in response to questions from analysts on a call following its results. Lyft and Uber have tried to lure back drivers with added incentives in recent quarters "It will be very interesting to see if Uber feels the need to similarly ramp investments ... or if Lyft is unique in struggling to bring back and retain drivers for some reason," said D.A. Davidson analyst Tom White, ascribing Lyft's stock losses to the driver costs and outlook. Lyft Inc. stock plunged 26% on Tuesday after the ride hail company said it would have to spend more heavily to attract drivers and forecast operating earnings less than a quarter of Wall Street targets, reflecting the added costs.

By Will Feuer Shares of Lyft Inc. dropped more than 26% in premarket trading after the company posted first-quarter results and issued current quarter sales ...

The company said it is investing in offering more incentives for drivers amid surging as prices and inflation elsewhere throughout the economy. That would be a second sequential quarterly decline in the figure and fell more than $50 million short of what Wall Street expected. Shares of Lyft Inc. dropped more than 26% in premarket trading after the company posted first-quarter results and issued current quarter sales and earnings guidance that were below analysts' expectations.

Uber Technologies Inc on Wednesday said it had no need to boost incentives further to lure more drivers and forecast a strong second quarter, a day after ...

Importantly, we expect this trend to continue without significant incremental incentive investments," Uber Chief Executive Dara Khosrowshahi said in prepared remarks. Register now for FREE unlimited access to Reuters.com Register now for FREE unlimited access to Reuters.com Register now for FREE unlimited access to Reuters.com

Lyft continued to plunge Wednesday as investors expect short-term headwinds to weigh on the company. In its first-quarter report Tuesday, Lyft provided ...

"There's no room for error in this environment, but still, this selloff seems overdone," Piper Sandler analysts said in a Tuesday note. It's unclear how much the company plans to invest or whether it would continue into the second half of the year. - Still, some analysts said in notes following the report that the sell-off was overblown.

The company reported a decline in ridership in its first-quarter financial earnings report Wednesday. It is also having trouble keeping drivers on its ...

“Lyft is spending money like a 1980′s Rock Star and this will have a violent negative reaction from investors in an already jittery market,” Ives said in a note Tuesday evening. Adjusting the supply of drivers is “like moving the Titanic,” chief executive Logan Green said on a call with investors Tuesday, while ridership “can change on a dime.” The company believes it will see a ridership spike as the global economy continues its rocky emergence from pandemic restrictions, and it is spending on driver incentives to ensure it can handle any sudden influx.