{"id":205928,"date":"2024-02-13T23:31:53","date_gmt":"2024-02-13T23:31:53","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/02\/13\/lyfts-monumental-mistake-in-a-press-release-briefly-sent-its-shares-soaring-67-before-it-issued-a-correction-and-reversed-the-rally\/"},"modified":"2025-06-25T17:21:52","modified_gmt":"2025-06-25T17:21:52","slug":"lyfts-monumental-mistake-in-a-press-release-briefly-sent-its-shares-soaring-67-before-it-issued-a-correction-and-reversed-the-rally","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/02\/13\/lyfts-monumental-mistake-in-a-press-release-briefly-sent-its-shares-soaring-67-before-it-issued-a-correction-and-reversed-the-rally\/","title":{"rendered":"Lyft’s monumental mistake in a press release briefly sent its shares soaring 67% before it issued a correction\u2014and reversed the rally"},"content":{"rendered":"

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Lyft<\/a> issued a massive correction to its outlook for earnings margin in 2024, saying its margin is expected to expand by 50 basis points \u2014 not the 500 basis points written into an earnings presentation released earlier on Tuesday.<\/p>\n

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\u201cThis is actually a correction from the press release,\u201d Erin Brewer, Lyft\u2019s chief financial officer, said in a call with analysts. \u201cIn my prepared remarks, I referenced 50 basis points of margin expansion.\u201d A spokesperson for the company attributed the correction to a clerical error.\u00a0<\/p>\n

The blowout forecast may have contributed to a surge in Lyft\u2019s shares in after-market trading on Tuesday. The stock jumped as much as 67% on the company\u2019s outlooks before erasing gains during the call with investors. It was up 20% at 5:52 p.m. in New York.\u00a0<\/p>\n<\/div>\n

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[ad_1] Lyft issued a massive correction to its outlook for earnings margin in 2024, saying its margin is expected to expand by 50 basis points<\/p>\n","protected":false},"author":1,"featured_media":205929,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[149],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/205928"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=205928"}],"version-history":[{"count":1,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/205928\/revisions"}],"predecessor-version":[{"id":344014,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/205928\/revisions\/344014"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/205929"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=205928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=205928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=205928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}