Maplebear Third Quarter 2024 Earnings: Beats Expectations

Maplebear (NASDAQ:CART) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$852.0m (up 12% from 3Q 2023).
• Net income: US$116.0m (up from US$2.00b loss in 3Q 2023).
• Profit margin: 14% (up from net loss in 3Q 2023). The move to profitability was primarily driven by lower expenses.
• EPS: US$0.45 (up from US$20.86 loss in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Maplebear Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 86%.

Looking ahead, revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Consumer Retailing industry in the US.

Performance of the American Consumer Retailing industry.

The company's shares are down 12% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. See our latest analysis on Maplebear's balance sheet health.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.