Lyft shares jumped 62 per cent after the closing bell Tuesday thanks in part to a typo in the ride-hailing company's earnings release that appears to have sent investors' auto-trading algorithms -- or "bots" -- into a buying frenzy.
Lyft's fourth-quarter report initially forecast that an important profit metric was expected to climb by 500 basis points, or 5 per cent, in 2024. However, the company informed investors about five minutes after the original release that there was one zero too many in that number and corrected it to 50 basis points, a much more realistic 0.5 per cent.
Shares retreated after the correction, but remain more than 37 per cent higher -- at US$16.69 per share -- in early Wednesday trading because the company topped most Wall Street expectations for the quarter.
Lyft's gross bookings beat Wall Street forecasts, rising 17 per cent year-over-year to $3.7 billion. Lyft's guidance for first-quarter bookings between $3.5 and $3.6 billion also came in higher than projections.
The San Francisco company earned 19 cents per share in the period, more than doubling the 8 cents that industry analysts were expecting.
Lyft has appeared to turn things around since the last quarter of 2022, when it posted a whopping loss of 76 cents per share. In the four subsequent quarters of 2023, Lyft has easily beat profit targets, twice posting profits when Wall Street was expecting losses.
The company has long played second-fiddle to rival Uber, which softened the pandemic ride demand slump by expanding rapidly into food delivery.
The profit metric that contained the typo on Tuesday is referred to as adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) margin expansion, which is calculated as a percentage of gross bookings, according to Lyft.
With Wednesday's boost, Lyft shares are now in the green for 2024, up more than 11 per cent to date.
Israel pressed forward on two fronts Wednesday, pursuing a ground incursion into Lebanon against Hezbollah and conducting strikes in Gaza that killed dozens, including children.
A B.C. man has been ordered to pay a total of $4,000 to a Coquitlam company and its two owners because of a negative review he posted on Google.
In less than a year, an Alberta woman has gone from gracing the stage at her first pageant to competing at the Mrs. Universe pageant in South Korea. She's making history by becoming the first Canadian veteran to compete internationally.
Bloc Quebecois Leader Yves-Francois Blanchet says his ultimatum to the government stands, after the Liberals voted against a motion seeking money to boost seniors' benefits on Wednesday.
The jury at the trial of a second-degree murder suspect in Sudbury on Wednesday heard graphic details of the crime scene discovered in a Kathleen Street apartment on Boxing Day 2020.
Toronto police are searching for a suspect who they say shot and injured an officer near Yonge and Eglinton Wednesday afternoon.
A regional airport in southwest Japan was closed on Wednesday after a U.S. bombshell, likely dropped during the Second World War to stem "kamikaze" attacks, exploded near its runway, causing nearly 90 flight cancellations.
A project team from Newfoundland's Marine Institute has uncovered a nearly 10,000-square-metre cold-water soft coral garden, hidden just underneath the surface of the province's Funk Island Deep.
Canadian figure skater Nikolaj Sorensen has been suspended for at least six years for 'sexual maltreatment,' the Office of the Sport Integrity Commissioner announced Wednesday.
What happened to two Ontario men who left on a fishing trip 57 years ago and never returned home? That's something police say could be answered with a DNA sample.
A B.C. man has been ordered to pay a total of $4,000 to a Coquitlam company and its two owners because of a negative review he posted on Google.
A 27-year-old man is facing several charges after police observed a vehicle travelling 134 km/h over the speed limit on Highway 174 in Ottawa's east end.
A man has died and Manitoba's police watchdog is investigating after an officer-involved shooting Wednesday afternoon.
Alberta will not allow the sale of liquor in grocery and convenience stores, the province announced on Wednesday.
In less than a year, an Alberta woman has gone from gracing the stage at her first pageant to competing at the Mrs. Universe pageant in South Korea. She's making history by becoming the first Canadian veteran to compete internationally.
Donald Trump 'resorted to crimes' after losing the 2020 election, federal prosecutors said in a court filing unsealed Wednesday.
A total of 68 suspected gang members, with ties to White supremacy, were charged in the Los Angeles area Wednesday in a large-scale takedown, federal prosecutors said.
The United Nations on Wednesday called Israel’s ban on Secretary-General Antonio Guterres entering the country a political statement by its foreign minister.
President Joe Biden said Wednesday he will not support an Israeli strike on sites related to Tehran's nuclear program in response to Iran's missile attack on Israel.
U.S. authorities charged five Chinese nationals with lying and trying to cover their tracks, more than a year after they were confronted in the dark near a remote Michigan military site where thousands of people had gathered for summer drills.
Whether a two-year-old beaver named Nibi gets to stay with the rescuers she has known since she was a baby or must be released into the wild as winter approaches in Massachusetts has ended up in court -- and caused such an uproar that even the governor has weighed in.
Bloc Quebecois Leader Yves-Francois Blanchet says his ultimatum to the government stands, after the Liberals voted against a motion seeking money to boost seniors' benefits on Wednesday.
The latest Nanos numbers show Pierre Poilievre and the federal Conservative Party have opened up a significant lead, and Justin Trudeau’s Liberals have fallen back into a statistical tie with the NDP.
Prime Minister Justin Trudeau condemned Iran's missile attack on Israel Wednesday, but said the international community must do everything it can to help avoid a bigger regional war.
A woman with the rare condition of two uteruses delivered twins, one from each womb, last month at a hospital in northwestern China, according to health officials and state media.
A medallion containing some of the original mould involved in the discovery of penicillin is expected to fetch up to US$50,000 when it goes up for auction later this month.
Black-coloured plastic used in children’s toys, takeout containers, kitchen utensils and grocery meat and produce trays may contain alarming levels of toxic flame retardants that may be leaching from electronic products during recycling, a new study found.
Amazon Web Services’ director of global artificial intelligence is encouraging Canada not to go it alone when it comes to regulating the technology.
The bracket for 2024's Fat Bear Week contest was revealed Tuesday night, but only after a deadly bear-on-bear attack at Alaska’s Katmai National Park and Preserve on Monday delayed the unveiling.
A medallion containing some of the original mould involved in the discovery of penicillin is expected to fetch up to US$50,000 when it goes up for auction later this month.
A San Diego doctor became the third person to plead guilty in the case of Matthew Perry's fatal drug overdose, as prosecutors collect cooperators in an attempt to convict two bigger targets they say are responsible for the death of the 'Friends' star.
If all you want for Christmas is Mariah Carey and her famous holiday single, you need to wait.
Jacob Hoggard wrapped up his time on the stand in his sexual assault trial this morning after the Crown cross-examined him on apparent gaps in his memory.
DoorDash is increasing fees in British Columbia in response to recently passed provincial legislation.
Bank of America customers reported having trouble accessing their bank accounts on Wednesday, but the bank said the apparent glitch has been largely fixed.
Hundreds of thousands of Canadian small- and medium-sized businesses will receive carbon rebates by December. Find out who is eligible and how to obtain the payments.
In less than a year, an Alberta woman has gone from gracing the stage at her first pageant to competing at the Mrs. Universe pageant in South Korea. She's making history by becoming the first Canadian veteran to compete internationally.
In late August, U.K. television personality Kirstie Allsopp found herself in an unexpected media storm after a series of her social media posts describing her 15-year-old son's trip through Europe without adult supervision went viral.
Tom Turcich and his four-legged companion were greeted by a huge homecoming celebration in Haddon Township on May 21, 2022, with Turcich officially becoming the 10th person on record to walk around the world, and Savannah claiming the title of the first dog to do so.
Days after being suspended by FIFA, Argentina goalkeeper Emiliano Martinez produced heroics in front of the watching Prince William as Aston Villa sealed another famous win against Bayern Munich.
The claim to Shohei Ohtani's potentially lucrative 50th home run ball grew more complicated this week, with a second fan filing a lawsuit asserting he had possession of the historic baseball.
The men's final of this year’s China Open was billed as a battle between two titans and it definitely didn't disappoint.
Canadian-made Chrysler Grand Caravans have seen sales jump over the third quarter and calendar year. According to FCA Canada, sales were up by 79 per cent this quarter and up 85 per cent for the calendar-year to date.
A Pickering, Ont., student going to college to be a mechanic is shocked the engine in his two-year-old car will not be repaired under warranty after the dealership claimed he had been 'over-revving' the engine.
General Motors’ Cruise autonomous vehicle division will pay a US$1.5 million penalty after the unit failed to fully report a crash involving a pedestrian, the National Highway Traffic Safety Administration said Monday.
The last living member of the legendary Vancouver Asahi baseball team, Kaye Kaminishi, died on Saturday, Sept. 28, surrounded by family. He was 102 years old.
On Saturday night at her parents’ home in Delaware, Ont. the Olympic bronze medallist in pole vault welcomed everyone who played a role in getting her to the podium in Paris.
A tale about a taxicab hauling gold and sinking through the ice on Larder Lake, Ont., in December 1937 has captivated a man from that town for decades.
When a group of B.C. filmmakers set out on a small fishing boat near Powell River last week, they hoped to capture some video for a documentary on humpback whales. What happened next blew their minds.
A pizza chain in Edmonton claims to have the world's largest deliverable pizza.
Sarah McLachlan is returning to her hometown of Halifax in November.
Wayne MacKay is still playing basketball twice at Mount Allison University at 87 years old.
A man from a small rural Alberta town is making music that makes people laugh.
An Indigenous artist has a buyer-beware warning ahead of Sept. 30, the National Day for Truth and Reconciliation.
New data from Greater Vancouver and the Fraser Valley shows a surge in supply and drop in demand in the region's historically hot real estate market.
The moment the writ was dropped for the Oct. 19 election, candidates all over B.C. began putting up campaign signs. By the following day, many of those signs had already been stolen or vandalized, and that’s continuing today.
What does New Westminster's təməsew̓txʷ Aquatic and Community Centre have in common with a historic 68,000-seat stadium in Beijing, an NFL stadium and the aquatics venue for the Paris Olympics? They've all been named among the world's most beautiful sports venues for 2024.
Toronto police are searching for a suspect who they say shot and injured an officer near Yonge and Eglinton Wednesday afternoon.
Four members of a family, including three children, are in hospital after they were struck by the driver of a vehicle in Etobicoke Wednesday evening.
Police said 26-year-old Joey Omar Black was found shot in the parking lot of a shopping centre near Allen Road and Lawrence Avenue West just before midnight on Monday.
A 23-year-old Airdrie woman who was diagnosed with an aggressive form of cancer while pregnant is desperately in need of hundreds of thousands of dollars for a potentially life-saving drug trial only available in the United States.
Customers paid for tiny homes but are dealing with huge headaches after a Calgary company told them they are going out of business.
EMS say they responded to reports of a shooting across from the Drop-In Centre around 5:30 p.m. on Wednesday.
An Ottawa councillor has posted video on social media of what appears to be a close call with a car while biking in Ottawa.
Nacho, a kitten that was allegedly stolen from an Orléans pet store, has been found safe, the Furry Tales Cat Rescue says.
A 27-year-old man is facing several charges after police observed a vehicle travelling 134 km/h over the speed limit on Highway 174 in Ottawa's east end.
Eva Abdul Khalek is grateful. Her cat Luigi survived a fall from their 11th-floor balcony. The family believes the cat snuck out, likely through the balcony door that was left open.
Quebec has been modernizing its bottle deposit refund program, but after four years, delays persist, leaving some to wonder what will happen in March when the program expands to include wine bottles.
Montreal police (SPVM) arrested five people – three minors and two adults – who were in possession of incendiary materials in Cote-Saint-Luc and the Cote-des-Neiges-Notre-Dame-de-Grace borough early Wednesday morning.
Low water levels on the Athabasca River in Fort Chipewyan this Spring revealed more than community leaders had bargained for.
There are renewed questions over a recent comment by Alberta Premier Danielle Smith on whether the province is being sprayed from above by so-called chemtrails.
Edmonton city council approved its new district policy and plans for 14 districts on Wednesday.
The Saint John Police Force is investigating a sudden death after the body of a man was found at a tent encampment in the city.
Five cruise ships docked across Cape Breton on Wednesday, setting a new record for the island.
Fisheries and Oceans Canada (DFO) seized more than 13,000 pounds of lobster – worth more than $100,000 – from a facility in Shelburne County, N.S., on Wednesday.
A man has died and Manitoba's police watchdog is investigating after an officer-involved shooting Wednesday afternoon.
The grave of a previously unknown Canadian soldier has been identified as a man from Hayfield, Man. who fought in the First World War.
Manitoba Premier Wab Kinew has apologized to defence lawyers for comments he made in ousting one of his caucus members.
Regina city councillors heard an update from administration on the Lawson Aquatic Centre replacement at Executive Committee Wednesday.
The federal government announced plans to include contraception in their National Pharmacare plan earlier this year, and one Saskatchewan advocacy group is hopeful the province will jump on board.
When Saskatchewan Roughriders kicker, Brett Lauther, takes to the field at Commonwealth Stadium in Edmonton on Saturday it will mark his hundredth career Canadian Football League (CFL) game.
Renters in Kitchener, Ont. have joined with a local tenants union to call out the 'largest renovictor in Ontario.'
What happened to two Ontario men who left on a fishing trip 57 years ago and never returned home? That's something police say could be answered with a DNA sample.
The family-owned business, which has been a fixture on Arthur Street South since 1927, made the difficult decision to shut down following a smash and grab robbery back in June.
A Saskatoon-based political scientist doesn't expect Saskatchewan's provincial election to be dominated by large issues, explosive events or political fireworks prior to voting day on Oct. 28.
A Saskatoon photographer is hoping to make some love connections through a unique blind dating. The idea came out of a need to help singles get offline and back to real in-person connections.
The jury at the trial of a second-degree murder suspect in Sudbury on Wednesday heard graphic details of the crime scene discovered in a Kathleen Street apartment on Boxing Day 2020.
The latest Nanos numbers show Pierre Poilievre and the federal Conservative Party have opened up a significant lead, and Justin Trudeau’s Liberals have fallen back into a statistical tie with the NDP.
Jacob Hoggard wrapped up his time on the stand in his sexual assault trial this morning after the Crown cross-examined him on apparent gaps in his memory.
An investigation is underway at London's safe consumption site after someone who visited the facility died.
A drop-in shelter for women and gender-nonconforming Londoners living unsheltered is closing its doors in the Old East Village and transitioning to an outreach service.
Local tenant advocates were part of a multi-city demonstration Wednesday.
An Aurora, Ont. man who has maintained his innocence despite being convicted of killing his wife will learn his fate in a Newmarket courtroom on Wednesday.
Thinking about buying concert tickets or other items on Facebook? Police are warning the public about the risks of buying concert tickets and other items through social media, particularly Facebook Marketplace and Messenger.
Tributes have started pouring in for a Midland, Ont. man who died after reportedly being struck by an unmarked provincial police vehicle over the weekend.
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With their straight second win Wednesday, the Detroit Tigers swept the Houston Astros, advancing past the MLB playoffs' wildcard round and securing their spot in the American League Division Series (ALDS).
Described as a "bubble on the edge of bursting," Windsor's emergency shelters are approaching maximum capacity much earlier than expected this year.
The moment the writ was dropped for the Oct. 19 election, candidates all over B.C. began putting up campaign signs. By the following day, many of those signs had already been stolen or vandalized, and that’s continuing today.
DoorDash is increasing fees in British Columbia in response to recently passed provincial legislation.
A grassroots campaign to end gender-based violence has sent a letter to BC Conservative Leader John Rustad informing him it is withdrawing permission for him to wear its symbol.
Three young suspects have been arrested in connection with a swarming attack on a teenager in B.C.'s Okanagan last week – and authorities have asked the public to stop circulating disturbing videos of the incident.
A father in Kelowna is furious after his 13-year-old daughter was brutally beaten on Gyro Beach. He is calling for criminal charges in the devastating attack, which was caught on video by multiple bystanders.
The officer who shot and killed a forcible confinement suspect in Kamloops two years ago was justified in doing so, according to the Independent Investigations Office of B.C.
Hearings on a proposed coal project in Alberta's Crowsnest Pass will go ahead despite legal challenges.
A Lethbridge man is facing several charges after a traffic stop led to the seizure of drugs and weapons.
From offering two meals a week to three a day, the Lethbridge Soup Kitchen has grown immensely over the past 40 years.
City council in Sault Ste. Marie has decided to purchase the former general hospital site, with an eye on demolishing the property and selling it to a buyer serious about redevelopment.
A woman who has worked for Â鶹´«Ã½ Northern Ontario for 50 years was honoured Tuesday night with a lifetime achievement award.
CTV Northern Ontario will be live on location in the community collecting donations to stock the shelves of local food banks this month.
He may not have logged the fastest time or even gone the full distance, but residents of a Newfoundland town agree the goat who unexpectedly joined the local weekend half marathon was the event's undisputed champion.
A mother in a community where the cost of living is one of the highest in the country says grocery prices are 'inhumane' and retailers are putting profits ahead of people’s basic human right to food.
A soccer game in England on Tuesday night drove a spike in online traffic across the Atlantic to a website launched by the Newfoundland and Labrador government.
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