Instacart parent company Maplebear Inc (NASDAQ:CART) reported financial results for the second quarter after the close on Thursday. Here’s what you need to know from the report.
- Maplebear stock is among today’s top performers. What’s fueling CART momentum?
Maplebear Q2 Highlights
- Q2 Revenue: $1.04 billion, versus estimates of $1.03 billion
- Q2 EPS: 45 cents, versus estimates of 54 cents
The Instacart parent said orders increased 9% year-over-year to 90.3 million in the second quarter as total revenue increased 14% and gross transaction value climbed 14%.
Maplebear generated operating cash flow of $493 million and free cash flow of $480 million. The delivery aggregator ended the quarter with approximately $637 million in total cash and cash equivalents.
“We’re attracting and engaging more customers across our marketplace and enterprise platform, which creates more value for retailers, brands, and shoppers,” said Chris Rogers, CEO of Maplebear.
“We’re continuing to improve the customer experience on our leading online grocery marketplace, accelerate adoption of our enterprise technologies with retailers, and expand the breadth and depth of our advertising ecosystem.”
Maplebear expects third-quarter gross transaction value of $10.30 billion to $10.55 billion and third-quarter adjusted EBITDA of $320 million to $340 million.
CART Shares Climb After The Close
Maplebear shares were up 9.48% in after-hours, trading at $49.30 at the time of publication on Thursday, according to Benzinga Pro.
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