The grocery delivery firm also boosted its share buyback program by $1B, signaling confidence in cash flow.
Instacart raised its Q2 gross transaction value outlook to a range of $10.1 billion to $10.25 billion, up from prior guidance. The move reflects stronger-than-expected demand in its core grocery delivery segment amid stable consumer spending trends.
The company previously reported Q1 GTV of $9.8 billion, with analysts expecting a modest sequential increase. The updated forecast suggests a 3%-5% growth quarter-over-quarter, aligning with seasonal trends observed in 2023.
In tandem, Instacart authorized an additional $1 billion for share repurchases, expanding its existing buyback program. The announcement underscores management’s focus on returning capital to shareholders while maintaining liquidity.