SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Maplebear Inc. (CART) on Tuesday reported third-quarter net income of $118 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the San Francisco-based company said it had net income of 42 cents.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
The operator of the Instacart online grocery posted revenue of $852 million in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $845.1 million.
Maplebear shares have more than doubled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $48.35, a rise of 89% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CART at https://www.zacks.com/ap/CART
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