Published 9 months ago

Instacart sees upbeat core profit on higher transaction, ad fees

Summary by Ground News

Instacart forecast fourth-quarter core profit above Wall Street estimates. Company beat third-quarter revenue expectations on back of higher delivery and service fees. Instacart also announced a $500 million share repurchase program. Its stock has lost more than a third of its value since its debut in September.

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Instacart sees upbeat core profit on higher transaction, ad fees

By Granth Vanaik (Reuters) - Instacart on Wednesday forecast fourth-quarter core profit above Wall Street estimates in its first earnings report since going public in September, powered by higher transaction and advertisement fees. The grocery delivery firm, whose stock has lost more than a third of its value since its debut, also announced a $500 million share repurchase program. Instacart said it expects current-quarter adjusted EBITDA, a …

9 months ago

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