Stock Track | Lyft Plummets 6% After Lowering Q1 Bookings Forecast Amid Fierce Ride-Share Competition

Stock Track

Feb 12, 2025

Lyft, Inc.'s (LYFT) stock price tumbled 6.02% intraday on Tuesday, as the ride-sharing company grappled with intensifying competition and provided a weaker-than-expected bookings forecast for the first quarter.

In its latest earnings report, released after the market close, Lyft projected Q1 gross bookings between $4.05 billion and $4.20 billion, falling short of analysts' estimates of $4.26 billion. The company cited fierce competition with larger rival Uber Technologies (UBER) as a key factor pressuring its bookings outlook.

According to CEO David Risher, Lyft has been matching prices with Uber to grab more market share, a strategy that has helped boost rides and driver hours. However, this competitive pricing environment appears to have weighed on Lyft's near-term revenue projections.

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The company cited fierce competition with larger rival Uber Technologies (UBER) as a key factor pressuring its bookings outlook.</p>\n\n<p>According to CEO David Risher, Lyft has been matching prices with Uber to grab more market share, a strategy that has helped boost rides and driver hours. However, this competitive pricing environment appears to have weighed on Lyft's near-term revenue projections.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LYFT","symbol_name":"Lyft, Inc.","start_time":0,"source_url":"","article_id":"1166594843","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1166594843","pubTimestamp":1739308128,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Lyft, Inc.'s  stock price tumbled 6.02% intraday on Tuesday, as the ride-sharing company grappled with intensifying competition and provided a weaker-than-expected bookings forecast for the first quarter.In its latest earnings report, released after the market close, Lyft projected Q1 gross bookings between $4.05 billion and $4.20 billion, falling short of analysts' estimates of $4.26 billion. 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