Get the latest tech news
Lyft shares sink 6% on underwhelming fourth-quarter results
Lyft shares shed about 6% after the ride-sharing app reported lackluster fourth-quarter results and weak bookings guidance due to rising competition.
Lyft shares shed about 6% after the ride-sharing app reported lackluster fourth-quarter results and offered weak bookings guidance as it lowers prices to keep up with competition. During the earnings call, Chief Financial Officer Erin Brewer said the company lowered prices and used discounts in the end of the year to keep up with the market. Lyft shares dropped 6% on lackluster fourth-quarter results and weak bookings guidance as it lowers prices to keep up with competition.
Or read this on r/technology