Grubhub Inc. (NYSE: GRUB) topped revenue estimates for the fourth quarter of 2019 while adjusted net loss came in wider-than-expected. Shares climbed over 3% in aftermarket hours on Wednesday.
Total revenues increased 19% year-over-year to $341.3 million, beating forecasts of $325 million.

GAAP net loss was $27.7 million, or $0.30 per share compared to $5.2 million, or $0.06 per share, in the prior-year period. Adjusted loss was $4.2 million, or $0.05 per share. Analysts had projected a loss of $0.04 per share.
Adam DeWitt, President and CFO, said, “We continue to innovate the online takeout industry with our recent launch of Grubhub Ultimate, a revolutionary, first-of-its-kind proprietary hardware and software solution that integrates all restaurant ordering channels into one system. Grubhub Ultimate is an important step in helping unlock the pickup market, which accounts for the majority of the more than $250 billion takeout industry. We remain confident our overall strategy will deliver sustainable value for all of our stakeholders and the team is determined to continue to execute and build on the early wins.”
During the quarter, the number of active diners increased 28% year-over-year to 22.6 million. Daily Average Grubs rose 8% to 502,600. Gross food sales grew 13% to $1.6 billion.
For the first quarter of 2020, Grubhub expects revenue to be $350-370 million. For the full year of 2020, revenue is expected to be $1.4-1.5 billion.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
Infographic: Amazon (AMZN) Q4 2024 earnings beat estimates; sales rise 10%
E-commerce giant Amazon.com Inc. (NASDAQ: AMZN) on Thursday reported higher sales and profit for the fourth quarter of 2024. Earnings also beat analysts' estimates. Net sales increased to $187.8 billion
Philip Morris (PM) delivers strong performance in 4Q24 helped by smoke-free strength
Shares of Philip Morris International Inc. (NYSE: PM) jumped 10% on Thursday after the company delivered better-than-expected earnings results for the fourth quarter of 2024 and provided an encouraging outlook
Highlights of Bristol-Myers Squibb’s Q4 2024 earnings report
Biotechnology company Bristol Myers Squibb (NYSE: BMY) reported lower profit for the fourth quarter of 2024, despite an increase in revenue. Net income attributable to shareholders was $72 million or