Reported about 14 hours ago
Lyft's forecast for first-quarter gross bookings is below expectations as it grapples with intense competition from Uber, exacerbated by disruptions from wildfires and extreme weather. The company anticipates bookings between $4.05 billion and $4.20 billion, lower than the $4.26 billion estimate, and has seen its stock drop about 10% in after-hours trading. Despite competitive pricing strategies that have led to record-high revenue and market share, Lyft is still facing challenges in this highly competitive environment.
Source: YAHOO