Instacart reported second-quarter revenue of $1.04 billion, exceeding analyst estimates of $1.03 billion and representing 14.1% year-on-year growth. GAAP earnings per share came in at $0.45, missing the consensus estimate of $0.54 by 16.6%, while adjusted EBITDA reached $313 million, above the $297.8 million forecast. CEO Chris Rogers attributed the performance to accelerated net new customer additions, deeper engagement, and the expansion of AI-powered features such as personalized nutrition tags and enhanced substitution models. The company also highlighted growth in its advertising and enterprise segments, including new partnerships with Costco in France and Spain and Morrisons in the UK. Looking ahead, management guided for 14% growth at the midpoint for the third quarter and expects adjusted EBITDA to outpace gross transaction volume growth as it reinvests in core growth drivers.
Maplebear Inc.Q2 revenue beat and EBITDA above forecast, though EPS missed.
Costco Wholesale CorpNew partnership with Costco in France and Spain expands enterprise segment.
