Investing.com – Online food delivery service Grubhub tumbled in midday trade after posting and missing daily active delivery esimates.
Grubhub (NYSE:) slumped 10.5% in midday trade, while rival Uber (NYSE:) (which owns Uber Eats) fell 2.7%.
The company reported earnings per share of $0.27 on $325.1 million in revenue, compared to estimates for EPS of $0.30 on $318.11 million in revenue.
Active diners in the second quarter totaled 20.3 million, but daily deliveries, or grubs, were at 488,900, below estimates of 494,800.
Guidance for the third quarter was in line, with revenue of $320 million to $340 million expected.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.