Why Instacart Stock Popped Today

Instacart (CART) stock surged 12.90% after beating Q2 revenue estimates at $1.043 billion and issuing strong forward guidance. The company reported 14% GTV growth to $10.35 billion and 9% order growth, with adjusted EBITDA up 19%. For Q3, Instacart expects GTV of $10.3-10.55 billion and adjusted EBITDA of $320-340 million, both exceeding analyst expectations. The company also acquired computer vision firm Arpalus to improve margins and technology capabilities.