- GrubHub (NYSE:GRUB) is 6.4% lower despite posting a beat on top and bottom lines in Q1 earnings, with double-digit gains in nearly every metric.
- Revenues grew 49% and net income rose 88% to $47.2M (GAAP income rose 74% to $30.8M).
- Non-GAAP EBITDA of $64.1M was up 51% and beat an expected $57.9M.
- Active diners grew 72% Y/Y to 15.1M; "daily average Grubs" rose 35% to 436,900.
- Gross food sales rose 39% to $1.2B. "Our scale continues to generate improving profitability, leading to strong EBITDA per order of $1.63 during the first quarter, even as we push hard on delivery market expansion and spreading diner awareness," says CFO Adam DeWitt.
- For Q2, it's guiding to revenues of $228M-$236M (above consensus for $227.9M) and EBITDA of $59M-$65M (vs. expected $60.2M). For the full year, it's guiding to $930M-$965M in revenues (vs. consensus for $950.8M) and EBITDA of $242M-$262M (vs. consensus for $251M).
- Press release
- Now read: Microsoft (NASDAQ:MSFT): Headed To Higher Highs
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