Grubhub Chews Up Analyst Forecasts With Big Second-Quarter Gains
Grubhub (NYSE: GRUB) devoured analyst expectations by posting a 41% jump in pandemic-fueled second-quarter revenue that pushed key business metrics to large gains.
Yet it was still a money-losing operation, notching adjusted net losses of $16 million, or $0.17 per share, worse than the $37,000 loss, or breakeven on a per share basis, it recorded in the first quarter and a complete reversal of the $25 million, or $0.27-per-share profit, it put up a year ago. Analysts had forecast an $0.18-per-share loss.
However, adjusted earnings before interest, taxes, depreciation, and amortization of $13.3 million, though down 76% year over year, was far better than the $5 million in adjusted EBITDA it had guided toward in the first quarter.
Source Fool.com
