Maplebear Inc., doing business as Instacart, reported first-quarter revenue of $1.019 billion, a 14% year-over-year increase that beat the Zacks Consensus Estimate of $1.005 billion, while gross transaction value rose 13% to $10.288 billion. Earnings came in at 57 cents per share, up 54% from a year ago but missing the consensus by a penny. GAAP gross margin fell to 72% from 75% a year earlier, and gross profit as a percentage of gross transaction value slipped to 7.2% from 7.4%, as cost of revenue climbed 24% to $281 million. The company generated $253 million in free cash flow, repurchased $349 million of shares, and later added $1 billion to its share-repurchase authorization. CART trades at 2.27 times forward 12-month sales, below its two-year median of 2.81 times but above the Zacks sub-industry average of 1.92 times and the Zacks Retail-Wholesale sector average of 1.47 times.
Maplebear Inc.GAAP gross margin fell and earnings missed consensus by a penny
Amazon.com Inc
DoorDash, Inc. Class A Common Stock