Uber Surges After Announcing Another 3,000 Job Cuts, Bringing Total Layoffs To A Quarter Of Its Workforce

Last week, Wall Street was shocked following a report that Uber was seeking to acquire its biggest competitor in the food delivery space, Grubhub, in hopes of creating a food-delivery giant. The news was good enough to send the stock price surging however as it suggested Uber saw a light at the end of the coronavirus pandemic […]

Grubhub Reports 24% Jump in ‘Active Diners,’ but $33 Million Net Loss

Food delivery service Grubhub (NYSE:GRUB) is recovering slightly today after being down more than 12.5% in trading yesterday following its first-quarter 2020 results. Though the pandemic made home delivery soar across the industry, Grubhub posted a net loss of $33.4 million for the quarter, a sharp drop from the $6.9 million in net income it reported in Q1 2019. The […]

Lafayette-based Waitr meets projections, records $2.1 million first quarter loss

Lafayette-based food delivery service Waitr on Thursday reported a loss of $2.1 million, or $0.03 per share, for the first quarter, meeting analyst projections and recording its first profitable month in the process. In April, the company released some preliminary findings for the first quarter and said the company was expected to be $2 million to […]

Waitr losses narrow during first quarter, sees uptick in demand for food delivery

Louisiana-based online food delivery company Waitr Holdings Inc. saw a net loss of $2.1 million during first quarter, compared to $24.7 million in the red during first quarter 2019.  Waitr had projected a net loss between $2 million and $3 million several weeks ago for first quarter results.  Waitr has seen a boost in demand […]

Uber Eats grew like hell in Q1 but Uber still lost nearly $3B

Ahead of its earnings report today, shares of Uber  rose around 11%, buoyed by a set of financial results and promises about the future from Lyft that were rated highly by investors. That optimism lapped over the edges onto Uber. Today after the bell, however, the global ride-hailing giant reported its own financial results. Analysts had anticipated a loss of $0.83 per share against […]

Grubhub Fails to Post Profit Despite First Quarter Surge

Grubhub Inc. (GRUB) stock is trading lower by more than 4% in Thursday’s pre-market session after the food delivery company reported a net loss of $33.4 million, or $0.36 per share, on $363 million in first quarter 2020 revenue. The 12.1% year-over-year revenue increase matched expectations, but shareholders walked away after the news, disappointed that the first […]

DoorDash is the fastest growing meal delivery business during coronavirus lock down

DoorDash, after overtaking Grubhub 10 months ago to become the nation’s top meal deliverer, extended its lead during the current lockdown, new data show. Its revenue grew 21 percent in March compared with the previous month, according to data compiled by Second Measure, a California firm that analyzes credit-card purchases. Delivery firms make money by […]

Online meal delivery market suffers due to coronavirus crisis

(Reuters) — The lockdown of millions of people at home across the globe due to the coronavirus should have been the perfect recipe for success for the burgeoning online meal delivery market. But some of the world’s largest players, including Uber Eats and Just Eat, which is being bought by Takeaway.com, have been hit by a double whammy: […]

AMERICANS ARE TURNING TO RESTAURANT TAKEOUT AND DELIVERY IN MASSIVE NUMBERS WHILE SELF-ISOLATING, YELP SAYS

As Americans hunker down and stay at home during the coronavirus pandemic, data from the review site Yelp indicates that having food delivered has become twice as popular. “Consumers are responding to fears of infection, social distancing recommendations, and mandated business closures by getting their food from grocery stores or directly from farmers, not from […]

Waitr was $291 million in the red during 2019, cash on hand drops to $30 million

Louisiana online food delivery ordering tech startup Waitr Holdings Inc. was $291 million in the red during 2019, which is a loss of $4 per share, compared to a $34 million, or $2 per share, loss in 2018.  Waitr’s fourth-quarter earnings were also down as it lost $21.6 million in the last three months of […]