Feb 8 GrubHub Inc reported a 37.5
percent rise in quarterly revenue as more people used its online
food order and delivery services.
The company, which faces competition from Amazon.com Inc's
Prime Now, Yelp Inc's Eat24 and Uber's
UberEATS, reported a rise in quarterly net income to
$13.6 million, or 16 cents per share, in the fourth quarter
ended Dec. 31, from $11.3 million, or 13 cents per share, a year
"Our rapid scaling in delivery combined with our substantial
incremental margins helped Grubhub post record profits in 2016,"
Chief Financial Officer Adam DeWitt said.
The company's revenue rose to $137.5 million from $100
GrubHub, which allows diners to order from more than 45,000
restaurants, said that number of active diners rose 21.2 percent
to 8.2 million. Analysts were expecting active diners of 7.99
million, according to market research firm FactSet
On an adjusted basis, the company earned 23 cents per share.
GrubHub, whose network covers over 1,100 U.S. cities, also
forecast revenue of $148 million-$156 million for the first
quarter, compared with the average analysts' estimate of $150.1
million, according to Thomson Reuters I/B/E/S.
(Reporting by Aishwarya Venugopal in Bengaluru; Editing by