CNN —A typo in Lyft’s fourth-quarter earnings report caused the rideshare company’s stock to surge and then dramatically reverse course on Tuesday.
In an earnings statement released after the bell, Lyft estimated its gross margin would expand by 500 basis points, or 5 percentage points.
That sent the company’s stock shooting higher.
On Lyft’s earnings call, held shortly after the release, the company’s chief financial officer, Erin Brewer, provided the correct estimate.
“This is actually a correction for the press release,” Brewer said.
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