Instacart Posts Sales Beat, Issues Strong Earnings Outlook
- Revenue and value of orders beat Wall Street’s expectations
- Advertising and other non-delivery sales exceeded estimates
Instacart’s results come on the heels of big earnings beats by other delivery companies in recent days
Photographer: Tiffany Hagler-Geard/BloombergThis article is for subscribers only.
Instacart posted better-than-expected sales in the second quarter, signaling that the grocery-delivery business has a strong enough user base to support its longer-term bet on advertising.
Revenue gained to $823 million, far surpassing analysts’ expectations of $806 million. The value of orders placed during the quarter totaled $8.19 billion, also beating estimates. That’s even while the San Francisco firm reported that overall orders grew at a slower pace than expected.