Lyft (LYFT) stock is getting smoked in early trading Wednesday following an earnings report that beat estimates, but revealed that the company is pumping cash into adding more drivers to its platform.
Shares of the ride-sharing service were off as much as 33% Wednesday morning.
In the quarter, Lyft reported revenue of $875.6 million, beating Wall Street estimates of $844.5 million and losses per share of $0.57 versus expectations of $0.58. That’s not a bad quarter, especially considering the…
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