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Lyft says lower prices to hit profit, shares drop 30%

Feb 9 (Reuters) – Lyft Inc (LYFT.O) on Thursday forecast current-quarter profit far below Wall Street targets as the ride-hailing service lowered prices, triggering a 30% drop in shares on concerns it was falling behind bigger rival Uber (UBER.N).

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www.reuters.com/business/autos-transportation/lyft-forecasts-revenue-below-estimates-blames-cold-weather-lower-prices-2023-02-09/

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