GrubHub Inc (NYSE:GRUB) stock took a hit on Tuesday following the release of its earnings report for the first quarter of 2018.
During the first quarter of the year, GrubHub Inc reported earnings per share of 52 cents. This is better than its earnings per share of 29 cents from the same time last year. It also beat out Wall Street’s earnings per share estimate of 39 cents for the period.
Net income reported by GrubHub Inc for the first quarter of 2018 came in at $30.80 million. This is up 74% from its net income of $17.70 million that was reported in the first quarter of 2017.
GrubHub Inc also reported operating income of $31.55 million for the first quarter of the year. The food delivery company’s operating income for the same period of the year prior was $24.76 million.
Revenue reported by GrubHub Inc for the first quarter of 2018 was $232.57 million. This is an increase over its revenue of $156.13 million that was reported in the same quarter of the previous year. It also comes in above analysts’ revenue estimate of $229.33 million for the quarter.
Despite all of this positive news for GrubHub Inc, there was still one area it lacked in that has GRUB stock down today. Daily Active Grubs reported for the first quarter of the year came in at 436,900. This is a 35% increase over Daily Active Grubs from the same time last year. However, it comes in below Wall Street’s Daily Active Grubs estimate of 442,000 for the period.
GRUB stock was down 10% as of noon Tuesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
