BUZZ-Instacart rises after forecasting Q2 sales metric above estimates

Maplebear Inc.

Maplebear Inc.

CART

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** Shares of online grocery delivery firm Instacart CART.O, formally known as Maplebear, up 1.2% at $44.25 premarket

** Co forecasts Q2 gross transaction value (GTV) largely above estimates, betting on strong demand for its online grocery delivery services

** Expects Q2 GTV to be between $10.10 billion and $10.25 billion vs analysts' average estimate of $10.07 billion - LSEG-compiled data

** Reports 13% year-on-year rise in Q1 GTV to $10.29 billion, beating estimates of $10.2 billion

** Quarterly adjusted core profit jumps 23% to $300 million, topping expectations of $287.4 million

** As of last close, CART down ~3% YTD


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