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Lyft CEO on Margin Outlook Error: ‘My Bad’
Posted
February 14, 2024
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as posted by the channelLyft Chief Executive Officer David Risher’s response to a clerical error that unintentionally inflated the company’s earnings outlook on Tuesday and sent shares soaring: “My bad.” #markets #finance #lyft #news
“First of all, it’s on me,” Risher said in an interview with Bloomberg Television, taking the blame for a typo in a company press release Tuesday that erroneously projected earnings margins to expand by an eye-watering 500 basis points. (In reality, Lyft expects margins to grow by 50 basis points.) “This was a bad error,” he said, “but it was one zero in a press release.”
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