Grocery-delivery platform Instacart on Wednesday reported a nearly $2 billion loss in its first earnings report since going public, but its sales beat expectations and the company forecast “mid-single-digit” growth in the total value of transactions on its platform.
Instacart reported a net loss of $1.99 billion, or $20.86 a share, in the third quarter, driven by what the company said was “significantly elevated” stock-based compensation during its IPO. Revenue rose 14% to $764 million.
Stock was down 4%. Thoughts?
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