Reported 2 months ago
Instacart has projected its third-quarter gross transaction value and core profit to surpass analyst expectations, driven by higher transaction and advertising fees, along with increased orders on its platform. Following this announcement, company shares surged over 7%. Instacart's CEO noted growth in average order sizes, particularly in partnership with Uber for food delivery. Overall revenue rose 15% to $823 million, outpacing analyst estimates, while the company anticipates a significant gross transaction value between $8.10 billion and $8.25 billion.
Source: YAHOO