Instacart (CART) reported second-quarter revenue of $1.04 billion, a 14% increase year-over-year. Gross Transaction Value (GTV) also grew 14% to reach $10.35 billion.
Adjusted EBITDA rose 19% to $313 million during the period. Earnings per share reached $0.45, falling below the consensus estimate of $0.54.
The company projects third-quarter GTV between $10.30 billion and $10.55 billion. Forecasted adjusted core profit ranges from $320 million to $340 million for the next quarter. Both outlook figures exceeded analyst expectations.
Instacart shares climbed significantly in after-hours trading following the announcement.