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Earnings Review and Free Research Report: GrubHub’s Revenue Soared 32%; Adjusted Earnings Advanced 23%

Research Desk Line-up: Weibo Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 17, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on GrubHub Inc. (NYSE: GRUB), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=GRUB, following the Company's posting of its third quarter fiscal 2017 operating results on October 25, 2017. The United States' leading takeout marketplace notched record revenues and adjusted EBITDA per order, and also exceeded top- and bottom-line expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

http://protraderdaily.com/register/

Get more of our free earnings reports coverage from other constituents of the Internet Information Providers industry. Pro-TD has currently selected Weibo Corporation (NASDAQ: WB) for due-diligence and potential coverage as the Company announced on November 07, 2017, its unaudited financial results for Q3 2017 which ended on September 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Weibo when we publish it.

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At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on GRUB; also brushing on WB. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=GRUB

http://protraderdaily.com/optin/?symbol=WB

Earnings Reviewed

For the third quarter ended September 30, 2017, GrubHub posted revenues of $163.1 million, reflecting a 32% y-o-y increase from $123.5 million in Q3 2016. The Company's revenue numbers topped analysts' estimates of $159.1 million.

During Q3 2017, GrubHub's non-GAAP adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) advanced 21% to 43.0 million compared to $35.5 million in Q3 2016. The Company's adjusted EBITDA per order was $1.54 for the reported quarter, its highest level ever, up 7% compared to adjusted EBITDA per order of $1.44 in the year ago same period, driven in part by improved delivery efficiency as those orders approached economic parity with restaurants' self-delivery orders.

For Q3 2017, GrubHub posted a net income of $13.0 million, or $0.15 per diluted share, compared to a net income of $13.2 million, or $0.15 per diluted share, in Q3 2016. The Company's non-GAAP net income totaled $24.5 million, or $0.28 per diluted share, for the reported quarter, reflecting a growth of 23% on a y-o-y basis from adjusted earnings of $19.9 million, or $0.23 per diluted share, in the year ago comparable period. GrubHub's earnings surpassed Wall Street's expectations of $0.24 per share.

Business Metrics

During Q3 2017, GrubHub's Active Diners totaled 9.81 million, representing a 28% y-o-y increase from 7.69 million in Q3 2016. The Company's Daily Average Grubs (DAGs) were 304,500 in the reported quarter, increasing 14% from 267,500 DAGs in the year-ago corresponding period.

GrubHub's Gross Food Sales jumped 18% to $867 million on a y-o-y basis in the reported quarter, up 18% from $735 million in Q3 2016.

Corporate Development

GrubHub completed all three of its previously announced acquisitions for a total consideration of approximately $360 million in cash. GrubHub closed the acquisition of Foodler, one of the leading online delivery platforms in New England, on August 23, 2017, and closed the acquisition of 27 select OrderUp markets on September14, 2017. The contribution from these two acquisitions was included in the Company's financial and operational results in Q3 2017 as of their respective closing dates. Additionally, GrubHub completed the acquisition of Eat24 and commenced its partnership with Yelp on October 10, 2017.

Fourth Quarter Guidance

For Q4 2017, GrubHub is forecasting revenues in the range of $197 million to $205 million, with approximately $20 million of the revenues expected to be generated by the Company's recently concluded three acquisitions. GrubHub is forecasting adjusted EBITDA to be in the band of $51 million to $56 million, with approximately $2 million of contribution from the three acquisitions.

Stock Performance

GrubHub's share price finished yesterday's trading session at $64.51, advancing 2.41%. A total volume of 1.28 million shares have exchanged hands. The Company's stock price skyrocketed 19.75% in the last three months, 48.74% in the past six months, and 79.24% in the previous twelve months. Additionally, the stock soared 71.48% since the start of the year. Shares of the Company have a PE ratio of 95.43 and currently have a market cap of $5.56 billion.

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SOURCE: Pro-Trader Daily