GrubHub’s customer order numbers disappoint, shares drop

(Reuters) – Online food delivery company GrubHub reported stronger-than-expected quarterly profit and revenue on Tuesday, but the number of customer orders fell below analysts’ estimates, triggering a 9 percent drop in its shares.

GrubHub’s daily average grubs, or the number of orders placed by customers, were 436,900, missing analysts’ estimates of 442,480, according to FactSet. Its gross food sales of $1.2 billion also fell short of expectations.


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