SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Maplebear Inc. (CART) on Thursday reported first-quarter net income of $106 million.
On a per-share basis, the San Francisco-based company said it had profit of 37 cents.
The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.
The operator of the Instacart grocery delivery service posted revenue of $897 million in the period, which topped Street forecasts. Ten analysts surveyed by Zacks expected $895.5 million.
Maplebear shares have fallen roughly 4% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $39.79, an increase of 12% 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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