Lyft shares pop, then plop, as it predicts slow and steady growth

Lyft made less money per active rider in the second quarter — something that might normally give investors pause. Yet, the ride-hailing giant’s stock price initially rocketed nearly 14% in after-hours trading following its Q2 2023 earnings report. The stock then shed its after-hours gains shortly before this story went live.
Lyft’s enthusiastic investors seemed to be reacting to its positive outlook for its third fiscal quarter. While Lyft’s Q2 revenue matched Wall Street estimates of $1.02 billion — a mere 2% increase from the $1 billion in revenue Lyft pulled in Q1 &#

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