Lyft now expects revenue for the full year to hit as much as $3.5 billion, or about $200 million higher than it had previously forecast. At the same time, Lyft now expects its adjusted loss for the year to be $300 million less than it previously expected.
New York For a few minutes on Wednesday, it looked like Lyft had finally won over investors thanks to a better-than-expected earnings report. Then the ride-hailing company made an unwelcome announcement.
Lyft now expects revenue for the full year to hit as much as $3.5 billion, or about $200 million higher than it had previously forecast, driven by strong rider growth. At the same time, Lyft now expects its adjusted loss for the year to be $875 million at the high-end, or $300 million less than it previously expected.The announcement briefly gave Wall Street new reason to be optimistic about the company. Shares of Lyft jumped more than 10% in after-hours trading following the earnings results.
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