UBER - Even With The Corrected Typo Lyft Delivered Better-Than-Expected 2023 Financials That Paved The Way For Profitable Growth | Benzinga
Lyft Inc (NASDAQ: LYFT) was among the companies that defined last week. The ride hailing company stock surged more than 60% on Tuesday, but before sharply falling back as the mistake from its quarterly earnings release was corrected. The release initially showed a margin growth 2024 outlook that was exaggerated by as many as 10 times. Although the major error sent it on a wild ride, Lyft still provided strong financials, while also relying on strategic corporate partnerships with companies such as Starbucks Corporation (NASDAQ: SBUX) and Microsoft Corporation (NASDAQ: MSFT)-owned LinkedIn to pave the way for profitable growth this year.
David Risher, who took over less than a year ago, set ambitious goals for 2023 and emphasized on the fact that Lyft delivered over 700 million rides and helped drivers take home more than $8 billion, while recording the highest level of annual riders in its history. But, its biggest and much bigger rival, Uber Technologies Inc (NYSE: