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Trip-hailing platform Lyft on Tuesday introduced a brand new $1 billion stock-buyback program, spurred by administration’s confidence within the enterprise, however blended outcomes and forecasts despatched the inventory 14% decrease in after-hours buying and selling.
Lyft LYFT stated it expects first-quarter gross bookings — or the full greenback worth of the transactions made on the platform, excluding ideas for drivers — of $4.86 billion to $5 billion. The midpoint of that vary is $4.93 billion, in contrast with FactSet forecasts for $4.928 billion.