Instacart reports Q2 EPS 41c vs. 20c last year

Reports Q2 revenue $914M, consensus $895.82M. CEO Fidji Simo said, “We delivered another strong quarter, reinforcing the essential role we play in helping families save time, money, and effort putting food on the table. In Q2, we grew orders by 17% year-over-year to 82.7 million and increased GTV by 11% year-over-year to $9,081 million. We also delivered net income of $116 million and Adjusted EBITDA of $262 million. Our strategy is working: we’re accelerating online grocery adoption by creating better customer experiences, deepening retailer partnerships, and leveraging our data in innovative ways – all while expanding profitability. Our unique scale and advantages allow us to build grocery technologies with partners in ways that competitors simply can’t match, and have us well-positioned to lead as AI transforms how people make decisions and manage their daily lives. I’m incredibly excited by how our business is operating today and the momentum we’re building for the future.”