Just Eat Takeaway slips as Q3 GTV and order volume lag estimates

Just Eat Takeaway.com NV

16/10/2024 08:42

** Shares in Just Eat Takeaway  TKWY.AS  fall over 2% after
Europe's biggest food delivery firm by revenue missed forecasts
for Q3 gross transaction value (GTV) and order volume
    ** GTV, a common metric for delivery firms, was 6.34 bln
euros ($6.90 bln), missing consensus of 6.5 bln cited by ING
    ** It recorded 211.1 mln orders in Q3 vs 214 mln expected by
analysts
    ** "JET's 3Q24 trading update somewhat disappointed," says
KBC Securities, noting the GTV miss was due to softer order
volumes
    ** Both KBC and Deutsche Bank say Q3 is typically a softer
quarter due to seasonality, as good weather means less orders
    ** The two brokerages along with Degroof Petercam all note
Q3 GTV growth excluding North America was 3%, still within the
reiterated 2024 guidance range of 2-6%
    ** They also point to improvement in exit rate after a
slower July

($1 = 0.9194 euros)

 (Reporting by Michal Aleksandrowicz)
 ((michal.aleksandrowicz@tr.com))