Reported 12 days ago
Instacart has forecasted that its fourth-quarter performance will fall short of estimates, with expectations for gross transaction value between $8.50 billion and $8.65 billion, significantly lower than the $10.20 billion predicted. This decline is attributed to increased competition, a cooling of consumer spending amid high prices, and challenges from a recent cybersecurity breach. Despite a profitable quarter and growth in orders, analysts are surprised by Instacart's conservative outlook in contrast to rivals like DoorDash, which projected stronger core profits.
Source: YAHOO