Instacart is Getting a Big Boost from Grocery Delivery
September 9, 2024 | 1 min to read
Instacart is experiencing a significant boost in its grocery delivery business, indicating that consumers continue to spend despite an inflationary economy. The delivery giant reported strong second-quarter earnings, leading to a surge in its stock prices as it predicted robust profits and sales for the upcoming quarter. This positive momentum is encouraging Instacart to pursue longer-term investments.
The delivery giant said the upbeat quarter is pushing it to make longer term bets
Instacart is getting a big boost from its grocery delivery business – a signal that even in the inflation economy – shoppers are still spending and increasing the number of orders they place on the platform.
The delivery giant reported strong second quarter earnings on after the bell, prompting its shares to soar after it forecasted strong profits and sales for the upcoming quarter.
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