Grocery delivery platform Instacart beats Q3 revenue estimates on order growth

Maplebear

10/11/2025 12:16

Overview

Instacart Q3 2025 revenue grows 10% yr/yr, beating analyst expectations

Adjusted EPS for Q3 beats consensus, reflecting strong operational performance

GAAP net income rises 22% yr/yr, driven by operational performance

Outlook

Instacart projects Q4 GTV between $9,450 mln and $9,600 mln

Company expects Q4 adjusted EBITDA between $285 mln and $295 mln

Instacart notes EBT SNAP funding scenarios may impact Q4 results

Result Drivers

ORDER GROWTH - Orders increased 14% yr/yr, contributing to a 10% rise in GTV, driven by strong customer engagement and operational efficiency

PRICE PARITY - Retailers offering same-as-in-store pricing grew over 10 percentage points faster, enhancing customer retention

ADS ECOSYSTEM EXPANSION - Expanded ads ecosystem with over 7,500 brand partners, enhancing revenue opportunities

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$939 mln
$933.96 mln (30 Analysts)
Q3 EPS
Beat
$0.51
$0.49 (25 Analysts)
Q3 Net Income
$144 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy", 17 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the online services peer group is "buy"

Wall Street's median 12-month price target for Maplebear Inc is $54.85, about 33% above its November 7 closing price of $36.75

The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 24 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)