Instacart Reports Better-Than-Expected Q2 Earnings, Shares Move Higher

Instacart’s parent company, Maplebear, reported second-quarter revenue of $914 million and earnings of 41 cents per share, beating analyst estimates. Orders rose 17% year-over-year to 82.7 million, driving an 11% increase in gross transaction value to $9.08 billion. Maplebear said its strategy is driving online grocery adoption through improved customer experiences, stronger retailer partnerships, and innovative data use while growing profitability. The company ended the quarter with $1.28 billion in cash and emphasized its scale, retailer partnerships, and use of AI as key growth drivers. For Q3, Maplebear expects gross transaction value between $9 billion and $9.15 billion and adjusted EBITDA of $260 million to $270 million. Shares rose 8.42% after hours on Thursday.