Overview
- Revenue reached $939 million and adjusted EPS came in at $0.51, topping estimates as orders rose 14% to 83.4 million and gross transaction value increased 10% to $9.17 billion.
- For Q4, the company guided GTV to $9.45 billion–$9.60 billion and projected adjusted EBITDA of $285 million–$295 million, noting strong October performance and expected SNAP-related headwinds from the government shutdown.
- Instacart expanded its share repurchase authorization by $1.5 billion and launched a $250 million accelerated buyback, following additional opportunistic repurchases.
- CEO Chris Rogers highlighted priorities in affordability, enterprise solutions, and retail media, and said Instacart is rolling out AI-driven tools, including a new shopping assistant for grocers.
- Analyst reactions were mixed, with JPMorgan maintaining an Overweight rating while Needham and Benchmark cut price targets, as rivals such as Amazon and DoorDash intensify grocery delivery competition.