Grubhub Sales Beat Estimates With More Covid Takeout Diners
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Grubhub Inc. reported third-quarter revenue that beat analysts’ estimates as the Covid-19 pandemic boosted the number of diners ordering delivery.
Sales rose 53% to $494 million for the three months ended Sept. 30, the Chicago-based restaurant delivery company said Wednesday in a statement. Analysts had projected $436.6 million, according to data compiled by Bloomberg. As the pandemic keeps people home and limits indoor dining, Grubhub saw a 41% increase in the number of diners regularly ordering delivery from a year earlier.