Lyft’s shares skyrocketed over 60% due to a tiny typo in their earnings report.
A typo made Lyft’s future earnings look ten times better. Reality check: It was an overstatement.
CFO Erin Brewer’s quick clarification turned excitement into a blend of shock and awe.
CEO Risher takes the blame, saying, ‘It was one zero… a bad error.’ But insists the focus should remain on Lyft’s strong financials.
Despite the typo, Lyft reported a 17% increase in gross bookings, beating estimates at $3.72 billion.
A small mistake led to a big lesson: In the stock market, every zero counts.
Always research thoroughly and consult a financial advisor before investing.