HO LONG WILL THE DELIVERY BOOM LAST?

The pandemic has sent restaurant delivery into overdrive.  That became ever more clear in recent weeks as Grubhub and Uber Eats, two of the biggest third-party delivery companies, reported massive jumps across virtually every metric: Revenue, orders, new users and restaurant partners all rose significantly from April to June. “Given the strength we continue to […]

Just Eat Takeaway shares set to soar ahead of H1 earnings

Just Eat Takeaway.com has seen its share price outperformer the broader market, driven by its inorganic growth strategy and an uptick in consumers ordering take out amid government-imposed lockdowns due to Covid-19. The online food delivery company only recently rebranded following the merger of Just Eat and Netherlands-based Takeaway.com earlier this year, with the enlarged group announcing […]

Uber: Revisiting The Profitability Forecast, And It’s Only Worse

Summary Uber originally aimed to have a break-even in adjusted EBITDA by 2021, but the first two quarters have that figure down $181 million YoY. Rides bookings are down 73.88% since Q4 2019, while contribution to adjusted EBITDA is down 92%. Eats bookings have grown 122% YoY, but adjusted EBITDA for the segment is still […]

Uber Eats grows its restaurant partner roster by 50%

Dive Brief: Uber reported a 103% year-over-year revenue increase for Uber Eats as part of its Q2 earnings Thursday, according to a company release. Comparatively, Uber’s ride-hailing business saw a revenue decline of 67%.  Active partnered restaurants on Uber Eats crossed the 500,000 mark in June, up 50% year-over-year. The company added enterprise accounts including Baskin […]

Lafayette-based Waitr beats second-quarter estimates, posts record $10.7 million profit

Lafayette-based food delivery service Waitr announced Thursday its second quarter results beat earlier estimates, posting a $10.7 million in its official results instead of the $8 million estimated earlier. The second quarter marked Waitr’s first profitable quarter since the company went public in 2018. Waitr’s preliminary results in early July estimated the $8 million profit for the company. In the […]

Uber shares drop 4% after it loses more money than expected in Q2

Image Credits: ANTHONY WALLACE Today after the bell, American ride-hailing giant Uber  released its second-quarter results. The company’s revenue fell compared to both the year-ago quarter (Q2 2019), and the sequentially preceding period (Q1 2020). Investors had anticipated Uber’s declines due to COVID-19, and the company had spent time earlier this year assuring the investing public that it had enough cash […]

Uber’s Biggest Business Is Officially Not Ride-Sharing

With the coronavirus pandemic keeping people at home and dampening demand for ride-sharing, Uber’s UBER +4.5% mainstay business transporting people has just taken a back seat to its younger sibling, Uber Eats.  Gross bookings in Uber’s mobility rides unit slumped 75% to $3.1 billion in the second quarter while in the delivery segment, previously known as Eats, saw gross […]

Grubhub Reports Shaky Growth Going into JET Transaction

Grubhub (NYSE: GRUB) reported strong second-quarter results and gave a few updates on the Just Eat Takeaway.com (JET) transaction. The company released the results without an earnings call as the company has chosen not to hold calls until the close of the JET acquisition. Revenue and user growth continued on the solid trajectory seen in […]

Why a DoorDash IPO Might not Deliver for Investors

Food delivery leader DoorDash filed for an initial public offering in February, which was bad timing for a listing announcement, but prescient since it would benefit from the lockdown orders that would soon follow. While its market debut was delayed, the company still seems to be preparing for a public entrance as it raised $400 […]

Constituents, Industry Best Practices Guide Waitr’s Turnaround

When Waitr (NASDAQ: WTRH) pre-announced its second quarter results, it looked like a starkly different company than it did at the beginning of 2020. But it wasn’t the new popularity of delivery during the COVID-19 pandemic that got the company back on track, it was tough decisions, thoughtful exploration and seeing what the core constituents […]