Maplebear Inc. Reports Strong Performance Despite Revenue Miss
Maplebear Inc. Shows Growth in Fourth Quarter Earnings
Maplebear Inc. CART reported its fourth-quarter results recently. Although the revenue figures fell slightly short of expectations, the company demonstrated significant growth in various key metrics.
Quarterly Financial Highlights
Maplebear revealed quarterly earnings of 53 cents per share, exceeding analyst expectations of 39 cents. However, the total revenue reached $883 million, which did not meet the expected $891 million but saw an increase from last year's revenue of $803 million.
Detailed Stats for the Quarter
During the fourth quarter, Maplebear achieved notable performance metrics:
- Gross Transaction Value (GTV) was $8,645 million, a commendable 10% increase year-over-year.
- Orders totaled 77.5 million, marking an 11% rise compared to the same period last year.
- Total revenue grew by 10% year-over-year, representing 10.2% of GTV.
- Transaction revenue also climbed by 10% year-over-year, accounting for 7.1% of GTV.
CEO Statement on Growth and Strategy
Looking back at the year, CEO Fidji Simo expressed optimism about Maplebear's advancements. “2024 was a terrific year for Maplebear. We enhanced our service and technology, which helped solidify our leading position in the online grocery market,” he stated in a message to shareholders. He noted that the company's trajectory shows robust 11% order growth and 10% GTV growth compared to the previous year.
Market Reaction and Share Performance
Following the announcement, Maplebear's stock experienced a decline of approximately 8.77% after hours, closing at $44.50. This drop could reflect investor reactions to the revenue figures.
Looking Ahead
Despite the revenue miss, the company remains focused on innovation and improving its platform. As online grocery shopping continues to thrive, Maplebear aims to capitalize on market opportunities and enhance customer experiences.
Frequently Asked Questions
What were the earnings for Maplebear in the fourth quarter?
Maplebear reported earnings of 53 cents per share for the fourth quarter, surpassing analyst expectations.
How did Maplebear's revenue perform?
The revenue for the fourth quarter was $883 million, which fell short of the expected $891 million but showed growth from $803 million from the previous year.
What was the growth percentage for orders?
Maplebear experienced an 11% increase in orders year-over-year, totaling 77.5 million orders.
What is the company's GTV?
The Gross Transaction Value for Maplebear reached $8,645 million, up by 10% compared to the previous year.
How did the stock react to the report?
After the earnings report, Maplebear's shares dropped by approximately 8.77%, closing at $44.50.
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