Maplebear Inc. (NASDAQ:CART), now known as Instacart, stock rose 5.46% (As on November 11, 11:15:50 AM UTC-4, Source: Google Finance) after the company reported better-than-expected third-quarter results, with earnings and revenue exceeding analyst estimates as the grocery delivery platform continues to expand its retailer partnerships and enterprise solutions. There is 10% growth in gross transaction value (GTV), which hit $9.17 billion, exceeding analysts’ expectations of $9.09 billion, aided by steady demand for essential items and increased advertising revenue. Instacart’s quarterly core profit was $278 million, above estimates of $264.5 million. Orders grew 14% YoY to 83.4 million, though average order value decreased 4% YoY, partly due to lowered basket minimums for Instacart+ members. The company’s net income rose 22% YoY to $144 million, representing 1.6% of GTV and 15% of total revenue. Adjusted EBITDA also climbed 22% to $278 million. Instacart’s advertising and other revenue reached $269 million, up 10% YoY, while transaction revenue grew at the same rate to $670 million. The company highlighted its expanding AI solutions and enterprise offerings, including partnerships with retailers like Kroger, Good Food Holdings, and Sprouts Farmers Market.

Moreover, the company partnered with UK grocer Morrisons to bring Caper Carts to the UK, marking Instacart’s first retail partnership in the country with one of the UK’s largest supermarket chains. Caper Carts will launch at Morrisons in early 2026, with plans to expand across more stores. The company has also partnered with Merchants Distributors, LLC (MDI), a leading wholesale grocery distributor, to bring Instacart’s capabilities to hundreds of independent grocers.

CART in the third quarter of FY25 has reported the adjusted earnings per share of 51 cents, beating the analysts’ estimates for the adjusted earnings per share of 50 cents. The company had reported the adjusted revenue growth of 10 percent to $939 million in the third quarter of FY25, beating the analysts’ estimates for revenue of $933 million.

For the fourth quarter, CART forecasts GTV between $9.45 billion and $9.6 billion, representing YoY growth of 9% to 11%, with Adjusted EBITDA expected between $285 million and $295 million. The company also announced a $1.5 billion increase to its share repurchase program and plans to enter a $250 million accelerated share repurchase program. Instacart said the guidance reflects a robust October and enterprise partnership growth, but also accounts for issues with the Supplemental Nutrition Assistance Program, or SNAP, as the government shutdown has dragged on.