GrubHub and MasterCard released the earnings results for their first fiscal quarters before opening bell this morning. GrubHub missed estimates, posting earnings of 12 cents per share on $88.2 million in revenue, a 51% increase from last year. Analysts had been looking for earnings of 14 cents per share on revenue of $85.44 million for the first quarter. Analysts had been expecting earnings of 14 cents per share on $85.44 million in revenue.
MasterCard reported diluted earnings of 89 cents per share on revenue of $2.2 billion, a 3% year over year increase. Analysts had been expecting earnings of 80 cents per share on $2.3 billion in revenue.
Key metrics from GrubHub’s earnings report
GrubHub reported non-GAAP adjusted EBITDA of $28.3 million, a 72% increase compared to last year, and basic earnings of 13 cents per share. Net income increased 143% from last year to $10.6 million. The food delivery service reported 5.6 million active diners, an increase of 46% year over year. Daily Average Grubs increase 30% to 234.700. Gross food sales increased 36% from last year to $590 million. GrubHub recorded more than 21 million orders for its 35,000 restaurant partners during the first quarter.
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Management said they expect second quarter revenue of b