kassa! schreef op 5 februari 2021 14:48:
Grubhub Inc. (GRUB) is trading lower by nearly 3% in Thursday's pre-market after posting a loss of $0.41 per share, much worse than expectations for a $0.04 profit. Revenue rose 47.6% year over year to $503.74 million, just shy of $507.46 estimates. The "Active Diners" category posted a 39% year-over-year increase to 31.4 million customers, while 658,100 "Daily Average Grubs" marked a 31% increase from last year's 502,000.
KEY TAKEAWAYS
Grubhub reported its first losing quarter in the past four quarters.
A European delivery service is acquiring the company in an all-stock transaction.
DoorDash, Inc. (DASH) will become the only pure U.S. delivery play after the acquisition.
DoorDash stock could come under pressure after Grubhub's bearish report.
The news came as a shocker after three profitable quarters in a row, highlighting growing competition and a quiet rebellion by contracted restaurants who have found ways to bypass Grubhub's third-party fees and keep a bigger piece of the ticket for themselves.
The bearish quarter may complicate Just Eat Takeaway.com's pending acquisition, potentially affecting the number of American depository receipt (ADR) shares received by current Grubhub investors.