Lyft's Warns of Impact of Lower Prices to 2025 Gross Bookings -- Market Talk

Dow Jones
2025/02/12

1803 ET - Lyft's outlook for the first quarter was mainly affected by a pricing war with its competitors since the fourth quarter, together with people taking less, and shorter rides after the holidays, CFO Erin Brewer says on a call with analysts. The company had to lower prices, and if the price environment stays sustainably lower, that could translate into a low-single digit percentage point impact to the ride-sharing company's gross bookings in 2025, Brewer says. Brewer adds that the end of a long exclusive partnership with Delta Air Lines, who recently tapped Uber in a new deal, will also hit rides and gross bookings by 1% to 2%, starting in the second quarter. Shares fall 10% to $12.95 after hours. (sabela.ojea@wsj.com; @sabelaojeaguix)

 

(END) Dow Jones Newswires

February 11, 2025 18:04 ET (23:04 GMT)

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