Cost cuts to help Lyft turn cash flow positive in 2024; shares surge

Feb 13, 2024 · (Reuters) -Lyft beat estimates for quarterly profit on Tuesday and said it would generate positive free cash flow for the first time in 2024, as it benefits from cost cuts and pushes back against ...

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Lyft Stock Up 17% On Cost Cuts After Wild Ride On ... - Yahoo Finance

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Feb 14, 2024 · The early efforts fueled a 36% surge in Lyft stock in 2023. ... -Lyft beat estimates for quarterly profit on Tuesday and said it would generate positive free cash flow for the first …

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Lyft Stock Up 17% On Cost Cuts After Wild Ride On Company's

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Feb 13, 2024 · (Reuters) -Lyft beat estimates for quarterly profit on Tuesday and said it would generate positive free cash flow for the first time in 2024, as it cut costs and became more …

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Lyft Rises As Cost Cuts To Drive Positive Free Cash Flow In 2024

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Feb 14, 2024 · Lyft shares surged more than 21% on Wednesday before the bell after the ride-hailing company said cost cuts would help it generate positive free cash flow for the first time …

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Lyft Rises As Cost Cuts To Drive Positive Free Cash Flow In 2024

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Feb 14, 2024 · By Samrhitha A (Reuters) - Lyft shares surged more than 21% on Wednesday before the bell after the ride-hailing company said cost cuts would help it generate positive free …

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Lyft Forecast Gaffe Jolts Traders, Could Invite Scrutiny

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Feb 14, 2024 · Still, Lyft shares surged to a one-year high on Wednesday and were last up 34%, putting them on course to add more than $1.65 billion to the market value.

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Lyft Stock Up 17% On Cost Cuts After Wild Ride On Company's …

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Feb 13, 2024 · Lyft LYFT beat estimates for quarterly profit on Tuesday and said it would generate positive free cash flow for the first time in 2024, as it cut costs and became more …

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Lyft Rises As Cost Cuts To Drive Positive Free Cash Flow In 2024

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Feb 14, 2024 · By Samrhitha A (Reuters) - Lyft shares surged more than 21% on Wednesday before the bell after the ride-hailing company said cost cuts would help it generate positive free …

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FAQs about Cost cuts to help Lyft turn cash flow positive in 2024; shares surge Coupon?

Will Lyft generate free cash flow in 2024?

(Reporting by Akash Sriram in Bengaluru; Editing by Anil D'Silva) Lyft beat estimates for fourth-quarter profit on Tuesday and said it would generate positive free cash flow for the first time in 2024, as the ride-share platform reaps the benefits of cost cuts. Shares of the company rose more than 6% in extended trading. ...

Why did Lyft stock surge in 2023?

Risher, who took over the reins at Lyft less than a year ago, has driven aggressive restructuring, including eliminating management layers. The early efforts fueled a 36% surge in Lyft stock in 2023. "As we can drive our scale north and hold our costs flat, we're going to drop more money to the bottom line," Risher told Reuters in an interview. ...

Did Lyft cut costs in 2022?

Lyft cut total costs last year by 12%, from a year earlier, compared with a 28% surge in expenses in 2022. Rides to stadiums grew more than 35% last year from 2022, mainly driven by Taylor Swift's Eras Tour, Beyoncé's Renaissance World Tour and other sporting events, Lyft said. ...

How did Lyft stock perform after a correction?

Stock had surged 67% based on the statement and lost most of the gains after the correction. Roughly 47.8 million Lyft shares changed hands in after-hours activity, according to Nasdaq. That surpassed the stock's average daily volume of about 13.6 million shares in the last 50 regular trading sessions, according to LSEG data. ...

Will Lyft stock add $165 billion to the market?

Lyft said incorrectly that a key margin metric was expected to rise by 500 basis points this year, but Brewer later corrected that forecast to an increase of 50 basis points. Still, Lyft shares surged to a one-year high on Wednesday and were last up 34%, putting them on course to add more than $1.65 billion to the market value. ...

What happened to Lyft's free float stock?

Roughly 13% of Lyft's free float stock were shorted as of Jan. 31, verus a 3% short interest in Uber. Jake Walker, a securities lawyer at Block & Leviton, said the mistake could spark lawsuits as investors tried to recover losses. Still, as share gains settled late evening, investors focused on CEO David Risher's efforts to cut costs. ...