Lyft withdraws guidance, promises to detail in May 'actions' to weather coronavirus [MarketWatch]
Lyft, Inc. - Class A (LYFT)
Last lyft, inc. - class a earnings: 2/11 04:05 pm
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Source: MarketWatch
Lyft Inc. late Tuesday withdrew its guidance for the year, promising to reveal "detailed actions" to weather the economic destruction wrought by the coronavirus when it reports quarterly results in early May. "The pandemic began to have a negative impact on business trends, including ride volumes, in mid-March, which has continued into April," Lyft said in a statement. The update will include details on what Lyft is doing "to strengthen its financial position, improve its cost structure, and support drivers and riders on the Lyft platform," it said. The company said it will report first-quarter results after the bell on May 6. Shares of Lyft fell 0.2% in the extended session Tuesday after ending the regular trading day down 2.8%.
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