CNN —
A typo in Lyft’s fourth-quarter earnings report caused the rideshare company’s stock to surge and then dramatically reverse course on Tuesday.
In an earnings statement released after the bell, Lyft estimated its gross margin would expand by 500 basis points, or 5 percentage points. That sent the company’s stock shooting higher.
However, Lyft appeared to include an errant zero in its numbers: The company’s actual estimate is much lower, at 50 basis points or a half a percentage point.
On Lyft’s earnings call, held shortly after the release, the company’s chief
→ Continue reading at CNN - Business News
