Instacart posted better-than-expected results in the grocery delivery company’s first earnings report since it went public in September.
Instacart posted a third-quarter loss of $2 billion, including $2.6 billion in stock-based compensation expense. The loss was slightly narrower than the Street forecast for a loss of $2.2 billion. Instacart noted that for “mature cohorts”—customers who signed up in 2021 or earlier—GTV was down year-over-year, but added that the rate of decline improved compared with the second quarter.
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