Instacart

Instacart (CART) reported strong Q3 results, exceeding expectations with adjusted EPS of 51 cents and revenue of $939 million, a 10% year-over-year increase. Gross Transaction Value (GTV) also rose by 10%. CEO Chris Rogers highlighted affordability and enterprise solutions as key strategies. Instacart projects continued growth in the current quarter with GTV between $9.45B-$9.6B and EBITDA of $285M-$295M. While facing competition from Amazon and DoorDash, Instacart is investing in AI and has authorized a $1.5 billion share buyback program.

Instacart launched a suite of AI-powered solutions, including an AI shopping assistant (“Cart Assistant”) and “Store View” for real-time shelf monitoring, to help grocers personalize shopping experiences and optimize operations. Sprouts and Kroger are early adopters. Instacart aims to democratize access to advanced technology, partnering with AI leaders like OpenAI, Microsoft, and Google. This move positions Instacart as a key technology partner amid increasing competition from retail giants like Amazon and Walmart investing in their own AI capabilities.