From Investing.com: 2024-11-12 16:11:19

Instacart reported Q3 earnings that beat expectations with $0.42 EPS and $852M revenue, up 12% YoY. Shares fell 6.3% on lower Q4 guidance. GTV grew 11% to $8.3B, orders up 10% to 72.9M. Adjusted EBITDA rose 39% to $227M. Q4 forecast: GTV $8.5-8.65B, EBITDA $230-240M.

CEO Fidji Simo praised strong quarter, achieving fourth consecutive positive GAAP net income. Transaction revenue up 12% to $606M, ad revenue up 11% to $246M. Average order value increased to $114. Instacart remains focused on serving customers, retailers, brands, and shoppers.



Read more at Investing.com: Instacart shares drop as Q4 outlook falls short By Investing.com