Instacart reports Q1 EPS 57c, consensus 57c

Reports Q1 revenue $1.02B, consensus $1.01B. “Q1 was a milestone quarter – surpassing $10 billion in GTV and $1 billion in total revenue for the first time. These results prove that our strategy is working. We’re the leading grocery technology platform, delivering a best-in-class consumer experience, powering retailers across marketplace and enterprise, and operating a scaled ads ecosystem,” said Chris Rogers, CEO. “Each part of our platform is getting stronger – and they’re compounding together. That foundation positions us to invest in new initiatives like AI Solutions, international expansion, and in-store technologies that will help accelerate our growth over time.”