Just Eat Takeaway's GTV lags expectations in Q3 (updated)

Just Eat Takeaway.com NV

16/10/2024 06:32

(Adds orders, context and outlook reiteration from paragraph 3)
       Oct 16 (Reuters) - Just Eat Takeaway  TKWY.AS  on
Wednesday reported a lower than expected gross transaction value
(GTV) for the third quarter, as growth in its key Northern
European, UK and Irish markets was offset by double-digit
percentage drops in North America, Southern Europe and
Australia.
    Europe's biggest food delivery company by revenue said its
GTV, which measures the total value of all goods sold, fell 3%
to 6.34 billion euros ($6.90 billion) in the July-September
period, below analysts' consensus of 6.5 billion cited by ING in
a preview note.
    Just Eat also handled fewer than expected orders through its
platforms in the third quarter at 211.1 million, versus 214
million expected by analysts on average. 
    Meal delivery firms are exploring new ways to boost revenue
streams after the pandemic-driven boom waned, including
broadening their offering to retail stores, introducing more
advertising and implementing AI solutions to improve delivery
logistics.
    The company reaffirmed the 2024 outlook it had announced in
late February, including 2-6% GTV growth excluding North America
and core earnings (EBITDA) of about 450 million euros.
($1 = 0.9184 euros)

 (Reporting by Michal Aleksandrowicz in Gdansk; editing by Milla
Nissi)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))