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GrubHub sees Q1 revenue growth amid growing losses

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.

Go deeper (1 min. read)Arrow
Ivana Saric
30 mins ago - Health

CDC says some immunocompromised people can get fourth COVID shot

Photo: Noriko Hayashi/Bloomberg via Getty Images

The Centers for Disease Control and Prevention said in updated guidelines Tuesday that some immunocompromised people who have received either Pfizer or Moderna's COVID-19 vaccines will be able to get a fourth shot.

Details: People over 18 who are "moderately to severely immunocompromised" and have received three doses of an mRNA vaccine may get a fourth shot (of either the Pfizer, Moderna, or Johnson & Johnson vaccines) at least six months after getting their third Pfizer or Moderna dose, per the CDC.

Go deeper (<1 min. read)Arrow
Alayna Treene, author of Sneak Peek
1 hour ago - Politics & Policy

Scoop: Biden plan expected to include at least $500B for climate

Photo: Stephanie Keith/Bloomberg via Getty Images

The White House is privately telling lawmakers the climate portion of President Biden's roughly $2 trillion social spending plan is "mostly settled" and will likely cost more than $500 billion, two sources familiar with the talks tell Axios.

Why it matters: A pricetag of $500-$555 billion is a huge number and, if it holds, would likely be the single biggest component of the sweeping package. It also isn't far off from the roughly $600 billion proposed when the bill was expected to cost $3.5 trillion.

Go deeper (2 min. read)Arrow