Lyft CEO Says 'My Bad' on Margin Error

A company press release Tuesday that erroneously projected a measure of earnings margin to expand by 500 basis points (bps). In reality, Lyft expects margins to grow by 50 bps.

By Antonia Mufarech, Caroline Hyde & By Ed Ludlow | February 15, 2024 at 09:43 AM

Photo: David Risher, CEO of Lyft Inc., during a Bloomberg Television interview in San Francisco on February 14, 2024. Photographer: Michaela Vatcheva/Bloomberg

Lyft Inc. CEO David Risher's response to a clerical error that unintentionally inflated the company's earnings outlook on Tuesday and sent shares soaring: "My bad."

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