A ‘Clerical Error’ in Lyft Outlook Triggered 67% Jump (3)

It was, without a doubt, a strong earnings report.

Lyft Inc. projected adjusted earnings as much as 11% higher than analysts’ estimates, and reported bookings ahead of expectations. And then there was the outlook for profitability: Margins, the ride-hailing provider said in an initial press release Tuesday, were set to expand this year by an eye-watering 500 basis points. Shares surged, jumping 67% in after-hours trading.

But the projection was off. Way off.

Less than an hour after issuing the statement, Lyft Chief Financial Officer Erin Brewer joined a call with analysts and said the company is actually ...