Lyft is not convincing despite the increase in sales – Lyft shares collapse after hours on the NASDAQ

shares in this article

The ride-hailing service and Uber competitor Lyft posted a loss of $558 million in the fourth quarter of 2022, down from $283.2 million a year earlier.

Revenue increased to $1.2 BILLION from $970 MILLION. Here, experts had previously promised proceeds of 1.155 billion US dollars.

For the year as a whole, the loss was $1.58 billion after $1.06 billion a year ago.

Revenue also rose to $4.095 billion from $4.074 billion (analyst estimate: $4.801 billion).

The outlook was weak: In the first quarter, Lyft is targeting revenues of $975 million with EBITDA between $5 million and $15 million.

Lyft shares are temporarily down 22.63 percent at $12.55 in US after-hours trading on the NASDAQ.

Editorial office finanzen.net

Image sources: Tero Vesalainen / Shutterstock.com