Instacart projects Q3 growth above estimates as online grocery demand rises

Instacart said it expects third‑quarter gross transaction value (GTV) of $10.30 billion to $10.55 billion, topping analysts’ average estimate of $10.21 billion. The company also forecast adjusted core profit of $320 million to $340 million, above the $318.8 million consensus.

In the second quarter, Instacart reported GTV of $10.35 billion, revenue of $1.043 billion (up 14% year‑over‑year) and advertising revenue of $297 million, a 16% increase. Adjusted EBITDA rose 19% to $313 million. CEO Chris Rogers said the business is “performing incredibly well” and highlighted the company’s focus on affordability, including lowering the Instacart+ minimum order to $10.

The earnings beat sent Instacart shares up roughly 10%‑16% in extended trading. The company also noted the acquisition of computer‑vision firm Arpalus to improve margins and competitiveness. Peer DoorDash issued similar upbeat forecasts for its own third‑quarter metrics.