Instacart forecasts weak fourth-quarter on tepid consumer spend

Quick Summary:

Instacart on Tuesday forecast current-quarter key metrics below estimates, in signs that spending on online grocery and food deliveries on its platform could temper in the holiday season.

In contrast, rival Doordash forecast fourth-quarter core profit above estimates.

Target for adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of between $230 million and $240 million was also below estimates.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Instacart Spending Delivery Metrics Forecast Grocery Billion Estimates Online Cent Million

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-13 @ 06:03:31 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 416 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23560264

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Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 42 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 45 minutes ago

Coverage Areas: Singapore

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Publisher ID: #27

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