-
Tips for becoming a good boxer - November 6, 2020
-
7 expert tips for making your hens night a memorable one - November 6, 2020
-
5 reasons to host your Christmas party on a cruise boat - November 6, 2020
-
What to do when you’re charged with a crime - November 6, 2020
-
Should you get one or multiple dogs? Here’s all you need to know - November 3, 2020
-
A Guide: How to Build Your Very Own Magic Mirror - February 14, 2019
-
Our Top Inspirational Baseball Stars - November 24, 2018
-
Five Tech Tools That Will Help You Turn Your Blog into a Business - November 24, 2018
-
How to Indulge on Vacation without Expanding Your Waist - November 9, 2018
-
5 Strategies for Businesses to Appeal to Today’s Increasingly Mobile-Crazed Customers - November 9, 2018
GrubHub jumps 23.3%, hits new high on record revenues
The food delivery company’s stock is up more than 27% this morning, trading at $39.17 per share.
Advertisement
Grubhub shares popped about 14 percent before the market opened Thursday on news that it beat analyst estimates on revenue and earnings per share. Wall Street’s consensus estimates of $113 million.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 32% YoY to $28.4 million.
GrubHub states that there was a 24% increase in its active diners in the second quarter, boasting a number of 7.35 million users. Gross food sales gained 29% to $733M.
“Grubhub also generated a record number of orders in Q2 despite typical seasonal headwinds”, said Chief Executive, Matt Maloney said in a statement.
Daily Average Grubs were 271,100, a 23 percent year-over-year increase from 220,100 Daily Average Grubs in the second quarter of 2015.
Product enhancements, delivery initiative, and a better brand triggered diner expansion and a substantially-larger engagement in the quarter.
According to analysts at Cowen and Company, Grubhub’s strong second quarter was driven by a better tech platform and mobile app, a better selection of couriers and higher spending in advertising.
Advertisement
GrubHub, a New York-based online platform for restaurant pick-up and delivery orders, had 7.35 active diners in the quarter, a 24% growth over past year. For fiscal year 2016 (FY16), it projects the top-line to be in the $480-488 million range, with $136-142 million in EBITDA.