Grubhub (GRUB) Q2 Earnings Miss Estimates, Revenues Up Y/Y
Zacks Investment Research | Jul 30, 2019 09:52PM ET
Grubhub (NYSE:GRUB) reported second-quarter 2019 earnings of 27 cents per share, which missed the Zacks Consensus Estimate by 3 cents. However, the bottom line plunged 46% on a year-over-year basis.
The decline can be attributed to higher investments in marketing and advertisements that fully offset strong top-line growth.
Revenues surged 35.6% year over year to $325.1 million, which beat the consensus mark of $318 million.
Total costs & expenses jumped 55.3% year over year to $318.9 million. Operations & support, sales & marketing, technology, and general & administrative expenses increased 58.5%, 60.3%, 57.1% and 41.8%, respectively.
Revenues per order less operations and support costs were $3.66, up from $3.46 in the previous quarter.
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