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Benzinga
  • 2 years ago
Lyft's stock price increased nearly 70% after market close on Tuesday due to a typo in their earnings report that incorrectly stated a .5% margin expansion as a 5% expansion. The typo was present in both Lyft's earnings slide deck and press release accompanying the report. Lyft quickly corrected the mistake, but the stock surge had already begun. Lyft CEO David Risher took responsibility for the error during an interview, calling it a "bad error" and "super frustrating." Lyft's actual earnings report and 35% stock increase were still considered good news, even after correcting the typo.
Transcript
00:00 It's Benzinga and here's what's on the block. Lyft's stock price increased nearly 70% after
00:04 market close on Tuesday due to a typo in their earnings report that incorrectly stated a 0.5%
00:09 margin expansion as a 5% expansion. The typo was present in both Lyft's earnings slide deck and
00:14 press release accompanying this report. Lyft quickly corrected the mistake that the stock
00:18 surge had already begun. Lyft CEO David Risher took responsibility for the error during an
00:22 interview calling it a "bad error" and "super frustrating." Lyft's actual earnings report and
00:26 35% stock increase were still considered good news even after correcting the typo.
00:31 For all things money visit Benzinga.com
00:33 com.
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