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Photo: Smith Collection/Gado/Getty Images

Food delivery company GrubHub's stock dropped by more than 5% in after-hours trading after it delivered mixed Q1 results, with strong revenue, widening losses and a year-on-year decrease in daily average orders.

Why it matters: The coronavirus pandemic is expected to help delivery services as Americans remain home and shift how they interact with restaurants. Yet tech companies that enable them also face mounting costs relating to their workers' health and safety, and GrubHub's Q1 results suggest existing headwinds going into the crisis.

By the numbers:

  • Loss per share: $0.36, compared to $0.04 expected.
  • Revenue: $363 million, compared to $357 million expected.
  • Active diners: 23.89 million, up from 19.29 million a year ago.
  • Daily average orders: 516,300, down from 521,000 a year ago.
  • Gross food sales: $1.63 billion, up from $1.5 billion a year ago.

Go deeper

Ina Fried, author of Login
Aug 11, 2020 - Economy & Business

Adobe: E-commerce growth slows as stores reopen

Illustration: Rebecca Zisser/Axios

E-commerce sales are still way up compared to a year ago in the U.S., but growth moderated in July as more traditional stores reopened, according to fresh data from Adobe.

Why it matters: Undoubtedly some of the shifts to online shopping will be permanent, but the numbers suggest that consumers want to do a certain amount of their buying in-person.

The rebellion against Silicon Valley (the place)

Photo illustration: Sarah Grillo/Axios. Smith Collection/Gado via Getty Images

Silicon Valley may be a "state of mind," but it's also very much a real enclave in Northern California. Now, a growing faction of the tech industry is boycotting it.

Why it matters: The Bay Area is facing for the first time the prospect of losing its crown as the top destination for tech workers and startups — which could have an economic impact on the region and force it to reckon with its local issues.

Erica Pandey, author of @Work
1 hour ago - Economy & Business

Telework's tax mess

Illustration: Annelise Capossela/Axios

As teleworkers flit from city to city, they're creating a huge tax mess.

Why it matters: Our tax laws aren't built for telecommuting, and this new way of working could have dire implications for city and state budgets.