Instacart sees upbeat core profit on higher transaction, ad fees

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Go back to Instacart sees upbeat core profit on higher transaction, ad fees

Instacart (CART) posts EBITDA, revenue beat in first quarter as a public company

November 9, 2023 8:01 AM EST

Instacart (NASDAQ: CART) traded modestly lower in early trading Thursday after reporting its first quarterly results since its IPO in September, which showed better-than-expected revenue and EBITDA.

The grocery delivery service reported that Gross Transaction Value (GTV) grew 6% in the third quarter to $7.494 billion, while orders rose 4% to 66.2 million. Revenue rose 14% to $764 million, above the Wall Street consensus of $736.9 million.

Still, the company had... More