Instacart (NASDAQ: CART) reported Q1 EPS of $0.43, $0.52 better than the analyst estimate of ($0.09). Revenue for the quarter came in at $820 million versus the consensus estimate of $790.68 million.

We expect GTV of $8,000 million to $8,150 million, representing year-over-year growth of 7% to 9%. This outlook does not expect a benefit from inclement weather or leap day like we experienced in Q1 and continues to represent a step up versus the growth we delivered in 2023. We expect adjusted EBITDA of $180 million to $190 million, representing approximately 2.3% of GTV. This adjusted EBITDA outlook is up year-over-year on both an absolute and percent of GTV basis, while maintaining our flexibility to spend on marketing and consumer incentives to drive profitable long-term growth.

For earnings history and earnings-related data on Instacart (CART) click here.