Instacart expects its third-quarter adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) to be between $205 million and $215...
- Instacart forecast its third-quarter gross transaction value and core profit above Wall Street estimates on Tuesday, betting on higher transaction and advertisement fees and more orders on its online grocery delivery platform.The company has partnered with retailers to offer same-day delivery of products ranging from home improvement to beauty and skin care to fight competition in the U.S. It has also forayed into food delivery through a tie up with Uber.
Total orders rose 7% over the year earlier to 70.8 million in the quarter ended June 30, but growth was slower compared to the previous three-month period. Instacart expects third-quarter GTV — a key metric that shows value of products sold based on prices shown on its platform — to be between $8.10 billion and $8.25 billion, versus estimates of $8.10 billion.
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