Lyft (LYFT) shares fell sharply in after-hours trading after posting its fourth quarter results.
Revenue of $1.55 billion was about in line with the Bloomberg consensus estimate of $1.56 billion. Active riders and rides data were also in line with expectations.
For the first quarter, Lyft sees adjusted EBITDA of about $90 million to $95 million compared to the Wall Street estimate of $93.7 million. It sees gross bookings in a range of $4.05 billion to $4.2 billion which fell short of the $4.23 billion analysts had been expecting.
Lyft also announced a share buyback plan of up to $500 million.
Market Domination Overtime Anchors Josh Lipton and Julie Hyman recap Lyft’s results in the video above.
To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.
https://finance.yahoo.com/videos/series/market-domination-overtime/
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