SAN FRANCISCO (AP) — Maplebear Inc. (CART), the operator of the Instacart grocery delivery service, on Tuesday reported fourth-quarter earnings of $148 million.
On a per-share basis, the San Francisco-based company said it had profit of 53 cents.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The company posted revenue of $883 million in the period, which did not meet Street forecasts. Ten analysts surveyed by Zacks expected $887.5 million.
For the year, the company reported net income of $457 million, or $1.58 per share, swinging to a profit in the period. Revenue was reported as $3.38 billion.
Maplebear shares have increased 18% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $48.78, a rise of 55% 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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