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Instacart stock pops 14% on revenue beat, rosy guidance
Instacart's revenue rose 12% year-over-year to $992 million, driven by technology momentum and adding 70 net new retailers, marking its strongest growth in three years.
- Instacart shares climbed 14% in extended trading after reporting strong fourth-quarter revenue and issuing guidance, with a first-quarter GTV forecast of $10.13 billion–$10.28 billion, ahead of StreetAccount's $9.97 billion estimate.
- GTV grew 14% to $9.85 billion, surpassing StreetAccount's estimate of $9.54 billion, marking its strongest quarter in three years.
- Instacart reported $81 million in net income and $303 million in adjusted EBITDA, topping estimates, while orders reached 89.5 million, exceeding StreetAccount's 87.8 million forecast.
- Management set adjusted EBITDA guidance of $280 million–$290 million, exceeding StreetAccount's $277 million estimate, and highlighted enterprise platform gains with 70 net new retailers last year.
- CEO Chris Rogers attributed momentum to the company's technology and customer focus, saying investments in infrastructure, international markets, and artificial intelligence contribute only a 'small' amount so far.
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Instacart forecasts strong quarter driven by essentials demand, advertisement business
Instacart forecast current-quarter gross transaction value and core profit above expectations and beat fourth-quarter estimates on Thursday, helped by strong demand for essentials on its online delivery platform and rising advertising revenue.
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Total News Sources5
Leaning Left1Leaning Right0Center4Last UpdatedBias Distribution80% Center
Bias Distribution
- 80% of the sources are Center
80% Center
L 20%
C 80%
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