Categories AlphaGraphs, Consumer, Earnings

Grubhub (GRUB) tops Q2 targets despite swinging to a loss

Grubhub (NYSE: GRUB) reported a loss in the second quarter of 2020. However, the company beat the bottom and top-line estimates of the Street. Adjusted loss per share of $0.17 and revenue of $459 million was better than the targeted loss per share of $0.18 and a revenue of $406.48 million. GRUB stock declined by about 1% in the pre-market trading session.

Grubhub (GRUB) Q2 2020 Earnings Infograph

On a GAAP basis, Grubhub reported a loss of $45.4 million, or $0.49 per share compared to a profit of $1.3 million, or $0.01 per share, in the second quarter of 2019.

Last month, Amsterdam headquartered Just Eat Takeaway.com agreed to acquire Grubhub in a $7.3 billion deal. The transaction is expected to complete in the first quarter of fiscal 2021.

Also Read:  Infographic: The Kraft Heinz Company beats estimates in Q3

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