Lyft stock plunges after first quarter earnings report ...Middle East

The Hill - Technology
Lyft stock plunges after first quarter earnings report
source : The Hill ( Middle East ) () 28
Lyft’s stock plunged after the company shared its first quarter earnings report Tuesday and told investors costs would remain up as it invests more in incentives to attract drivers. Lyft’s first-quarter performance and forecast for investors also led to rival company Uber’s stock falling Tuesday.  This prompted Uber to push up the time of its own earnings report release from Wednesday afternoon to the morning, saying that it wanted to provide a more “timely update on the company’s performance and guidance before the market opens.” Lyft is poised to lose more than a quarter of its market value on Wednesday, Bloomberg reported.  The company's shares fell by as much as 29 percent t

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