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Benzinga
Benzinga
Business
Wayne Duggan

DARK SECRETS: Lyft analysts react to q2 guidance miss heavy investments in lagging driver recovery | Vintage Vibes

LYFT Inc (NASDAQ:LYFT) shares plummeted 32% on Wednesday after the company issued second-quarter guidance that came up well short of market expectations.

On Wednesday, Lyft reported first-quarter adjusted EPS of 7 cents, beating consensus analyst estimates of a 7-cent loss. First-quarter revenue was $876 million, also beating analyst expectations of $846 million. Revenue was up 44% from a year ago.

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