Lyft CEO Risher says consumer is showing 'no softness' as stock slides 15% after earnings

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Lyft

CEO David Risher defended the company’s fourth-quarter results Wednesday, telling CNBC that consumer demand remains strong.

“We have record profits, generated over a billion dollars in cash, and that’s a result of our customer-obsessed strategy, which just keeps working and growing the company,” he told CNBC’s “Squawk Box.” “So, love what we’re seeing, and really no softness on the consumer side at all.”

Shares sank 15% Wednesday as ridership numbers disappointed Wall Street.