The revenues are currently at 39% year-over Year which translate to a bump up from $112.2 million n Q1 2016 to an impressive $156.1 million in Q1 2017. Net income reports are even better at a rate of 78% year over year, an increase from $9.9 million or 0.12per share in Q1 2016 to $17.7 million, or $0.20 per diluted share in Q1 2017. GrubHub Inc. (NYSE: GRUB) reports the growth is based on the increase of active diners, 8.75 million up from 6.97 million or a 26% YOY increase which may have influenced the upward trajectory in its stock prices on Thursday.
Adam DeWitt, CFO of GrubHub, states, “GrubHub's growth on both sides of our network helped drive DAGs growth of 21% and EBITDA growth of 32% compared to the prior year…We generated significant operating leverage, in part due to our continued improvement in delivery efficiency. As a result, EBITDA per order was up 10% year over year to $1.46, even while we invested aggressively in product and marketing to drive future growth.”
Based on the Q1 reports of GrubHub financials as well as the statement made by their CFO, Adam DeWitt, the company’s growth appears to be due in part to the company’s dedication to systematic improvements as well as increased user ship. A great mix for the start of a strong first quarter.
Grubhub Inc. provides an online and mobile platform for restaurant pick-up and delivery orders. Its products include Grubhub and Seamless Mobile Applications and Mobile Website, GrubHub and Seamless Websites, Corporate Program, Delivery, Allmenus and MenuPages, GrubHub for Restaurants, and Restaurant Websites. As of December 31, 2016, the Company connected more than 50,000 local restaurants with diners in more than 1,100 cities across the United States. In certain markets, the Company also provides delivery services to restaurants on its platform that do not have their own delivery operations. The Company provides diners on the platform with a personalized platform that helps them search for local restaurants and then place an order from an Internet-connected device. It also provides diners with information about their orders and status. The Company also provides delivery services to restaurants on its platform that do not have their own delivery operations.