Shares of Grubhub Pop 11% After Solid Quarter

Shares of Grubhub Pop 11% After Solid Quarter

Shares of Grubhub Inc. (NYSE: GRUB), the nation's leading online and mobile food-ordering company, are bouncing 11% higher as of 4 p.m. EDT Wednesday after the company reported better-than-expected third-quarter results.

Revenue checked in at $163.1 million, a 32% jump from the prior-year quarter; the result topped analysts' estimates calling for $159.63 million. The company reported earnings of $0.28 per share, surpassing the consensus analyst forecast of $0.24 per share. User growth and order volume also remained strong in the quarter: The number of active diners jumped 28% year over year to 9.81 million, while "daily average grubs" (DAGs) came in at 304,500, notching a 14% increase year over year.

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Source: Fool.com