GrubHub soaring after earnings beat
Thomson Reuters
People dressed in food-themed costumes give away donuts to people headed to the floor of the New York Stock Exchange to celebrate the IPO of GrubHub, in New York
The stock now up about ~12%.
The company, which owns popular brands Seamless and AllMenus, delivered revenue of $100 million, a 35% increase from Q4 last year, and slightly above the average analyst exepctation of $99.4 million.
Net income increased 5% year-over-year to hit $11.3 million, and the company's adjusted earnings per share, excluding certain items, came in at 17 cents.
The company also delivered a strong forecast for the coming quarter, even as deep-pocketed rivals such as Amazon and Uber are moving into the market.
This is also a decidedly different turnout from GrubHub's Q3 earnings, where shares plunged more than 29% after its profits missed expectations.
Here are the other key numbers:
- Active Diners = 6.75 million, a 34% year-over-year increase from 5.03 million Active Diners in the fourth quarter of 2014.
- Daily Average Grubs (how many orders) = 241,800, increasing 19% year-over-year
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