10/22, 6:35 PM (Source: TeleTrader)
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Chart for: Lyft

Lyft rises more than 7% amid positive profit expectations

The stocks of the ride-hailing company Lyft.Inc. rose around 7% after the company's co-founder and CEO Logan Green told the Wall Street Journal that Lyft expects profitability on an adjusted EBIDTA basis to be reported one year earlier than analysts have been expecting.

Green said the company is investing ahead of the curve. He stated: "10 years from now we'll be a company managing millions of autonomous vehicles. It all takes cash, but it all will be profitable."

At 12:34 pm ET the stock price rose by 7.63% to $44 per share.

Breaking the News / TF