The Instacart logo is seen on a smartphone and on a PC screen.
Instacart 's stock rose more than 8% before the bell Monday after the grocery delivery platform topped third-quarter earnings and issued upbeat guidance under new CEO Chris Rogers.
Here's how the company did versus LSEG estimates:
Earnings per share: 51 cents adjusted vs. 49 cents expected
51 cents adjusted vs. 49 cents expected Revenue: $939 million vs. $934 million expected
Revenues rose 10% from $852 million in the year-ago period. Gross transaction value, which tracks the value of goods sold, rose 10% to $9.17 billion from $8.3 billion last year and surpassed a $9.11 billion estimate from FactSet.
In his first letter to shareholders as CEO, Rogers called the company a "clear leader" in online grocery delivery and said Instacart is focused on continuing to invest.
"We're deepening customer and retailer relationships, expanding our ads ecosystem, and launching innovative AI-powered tools across all aspects of our business — all while driving profitable growth," he wrote.
For the current quarter, the grocery delivery platform forecasted gross transaction value to range between $9.45 billion and $9.6 billion, reflecting 9% to 11% year-over-year growth. The midpoint surpassed the $9.48 billion forecast by FactSet. The company expects EBITDA of $285 million to $295 million.