July 30, 2019 / 1:17 PM / 2 months ago

GrubHub reports slump in quarterly profit as costs rise

July 30 (Reuters) - GrubHub Inc reported a slump in quarterly profit on Tuesday, hurt by soaring costs as the online food delivery company faces off against rivals Uber Eats and DoorDash, sending its stock down 6% in trading before the bell.

Net income attributable to common stockholders fell to $1.3 million, or 1 cent per share, in the second quarter ended June 30, from $30.1 million, or 33 cents per share, a year earlier.

Revenue, however, rose 36% to $325.1 million. Total costs and expenses rose 55.3% to $318.9 million in the quarter. (Reporting by Abhishek Manikandan in Bengaluru Editing by Saumyadeb Chakrabarty)

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