Lyft CFO Corrects Press Release, Says Adjusted EBITDA Margin Expansion Will Be 50 Basis Points Y/Y In 2024, Not 500 Basis Points
Portfolio Pulse from Benzinga Newsdesk
During a conference call, Lyft's CFO corrected a previous press release, stating that the company's adjusted EBITDA margin expansion will be 50 basis points year-over-year in 2024, not the 500 basis points previously announced.
February 13, 2024 | 9:58 pm
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Lyft's CFO corrected a significant error in a previous press release, adjusting the expected EBITDA margin expansion from 500 basis points to 50 basis points for 2024.
The correction of the expected EBITDA margin expansion from 500 basis points to just 50 basis points represents a significant reduction in expected profitability growth for Lyft in 2024. This could lead to a negative reaction from the market as investors adjust their expectations based on the new, less optimistic financial outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100