GrubHub Inc, an online food delivery company, reported a quarterly increase of 78% in revenue due to efforts to attract new entrants to pay.
Net income attributable to shareholders increased to $ 17.7 million, or $ 20 per share, for the first quarter ended March 31, from $ 9.9 million, or 12 cents a share last year.
The company forecasts revenue of $ 153 million – $ 161 million in the current quarter. According to Thomson Reuters I / B / E / S, which expected revenues of $ 158 million.
On Thursday, the shares of GrubHub jumped from 11.6% to $ 39.1.
The company has been intensifying its product offering and marketing efforts to attract more subscribers amid intensifying competition.
The company rose 29 cents per share.
The number of GrubHub’s active editors increased by 26 percent to 8.75 million. According to market research firm FactSet StreetAccount which predict that 8.54 million active dieters.
Revenue increased 39% to $ 156.1 million.