Lyft's CEO Says 'My Bad' on Margin Error, 'It Was One Zero' - Slashdot
source link: https://news.slashdot.org/story/24/02/14/1859225/lyfts-ceo-says-my-bad-on-margin-error-it-was-one-zero
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Lyft's CEO Says 'My Bad' on Margin Error, 'It Was One Zero' (yahoo.com) 8
Posted by msmash
on Wednesday February 14, 2024 @04:20PM from the tough-luck dept.The typo, which actually appeared in multiple company documents on Tuesday, helped drive a 67% surge in Lyft's shares in after-hours trading. The mistake was a serious one, Risher said. But it shouldn't take away from Lyft's "butt-kicking" financial performance, he said. Risher said his team at Lyft was taking the error very seriously and noted it was corrected "within seconds of finding it." But in fact, on a call with analysts to discuss the quarterly results, Lyft executives didn't immediately note the error in their opening remarks. Lyft Chief Financial Officer Erin Brewer just began referring to the company's outlook for a 50-basis-point expansion. It wasn't until later in the call, when an analyst pointed out the discrepancy, that Brewer acknowledged her outlook was "actually a correction from the press release."
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