Key facts
- Instacart forecasts Q3 gross transaction value (GTV) between $10.30 billion and $10.55 billion, exceeding analysts' average estimate of $10.21 billion.
- Instacart expects Q3 adjusted core profit between $320 million and $340 million, versus the estimate of $318.8 million.
- Instacart's second-quarter GTV was $10.35 billion, surpassing the estimate of $10.20 billion.
- Instacart's second-quarter adjusted core profit was $313 million, exceeding analysts' expectations of $298 million.
- Beyond Meat forecasts Q3 revenue between $60 million and $65 million, above the $62.2 million estimate.
- Beyond Meat's Q2 revenue was $68.8 million, beating estimates of $62.4 million.
- Keurig Dr Pepper reported Q2 revenue of $7.31 billion, surpassing estimates of $7.24 billion.
Instacart forecast third-quarter gross transaction value (GTV) and core profit to exceed analysts' estimates, signaling continued strength in online grocery delivery demand. The company expects Q3 GTV between $10.30 billion and $10.55 billion, surpassing the $10.21 billion estimate, and adjusted core profit between $320 million and $340 million, versus the $318.8 million estimate.
Instacart's second-quarter GTV reached $10.35 billion, exceeding the $10.20 billion estimate, with adjusted core profit at $313 million, also surpassing expectations. The company attributes this growth to consumers embracing convenience and seeking deals amid sticky inflation. Instacart's advertising business grew 16% to $297 million in the second quarter.
Peer DoorDash also issued an upbeat forecast for its third quarter. Meanwhile, Beyond Meat anticipates third-quarter revenue between $60 million and $65 million, exceeding the $62.2 million estimate, driven by international demand, though U.S. sales declined. Beyond Meat's second-quarter revenue was $68.8 million, beating estimates, with an adjusted loss of 9 cents per share. Keurig Dr Pepper reported second-quarter revenue of $7.31 billion, surpassing estimates, but maintained its full-year forecast.