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Why GrubHub Stock Plunged Today

TheMotleyFool

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Why GrubHub Stock Plunged TodayPhoto, wide shot, wide-angle lens, Restaurant, sunset photo at golden hour, photo by Thomas Heaton: https://img.theapi.app/temp/57273392-070f-46de-9297-125616327242.png

Shares of GrubHub (NYSE: GRUB) fell more than 12% on Tuesday, following the release of second-quarter results for the food ordering and delivery service.

Revenue surged 36% year over year to $325 million, fueled by a 20% rise in gross food sales, to $1.5 billion.

"The team continued executing in the second quarter, adding thousands of new, high-quality independent and enterprise restaurants, and growing our active diner base to more than 20 million," CEO Matt Maloney said in a press release.

Quelle Fool.com

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