Delivery Hero, the German food-delivery company, has surpassed analysts' expectations by posting impressive revenue growth in the second quarter. As a result, its shares experienced a significant boost in Wednesday morning trading.
Revenue Growth Exceeds Expectations
Delivery Hero reported a revenue of 2.58 billion euros ($2.83 billion) for the quarter, representing a 16% increase compared to the previous year at constant currency. The company's gross merchandise value (GMV), a crucial indicator of sales performance, also showed growth of 8.1% at constant currency, reaching EUR11.08 billion.
Citi analysts had predicted lower revenue of EUR2.49 billion and a GMV figure of EUR11.01 billion. Consequently, Delivery Hero's better-than-expected results garnered positive attention from analysts. Jefferies analysts expressed their satisfaction with the company's profitability progress in a research note.
Strong Projections for the Future
Delivery Hero now foresees revenue growth of approximately 15% at constant currency for the full year, surpassing its previous forecast of about 10%. Additionally, the company maintains its expectations for GMV growth of 5% to 7% and an adjusted Ebitda to GMV margin of over 0.5%.
Delivery Hero's thriving performance in the second quarter has instilled confidence in investors and analysts alike. The company remains dedicated to sustaining robust growth and profitability.
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