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Lyft shares get crushed on weak guidance for first quarter


Lyft beat the Street on revenue in the fourth quarter, but it wasn’t enough to assuage investors who reacted to the ride-hailing company’s weak guidance for the first three months of 2023.
Lyft lowered expectations for revenue in the first quarter to $975 million, a decline of about $200 million. Analysts had expected the company to promise $1.09 billion in revenue. That guidance sent shares plummeting 25% in after-hours trading Thursday to $12.13.
Logan Green, Lyft’s CEO and co-founder, said the colder weather would lead to a drop in ride-hail and bike and scooter usage, putting pressure on the company’s Q1 guidance.
“Prime time is coming down dramatica …

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