Research Desk Line-up: Bitauto Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 23, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on GrubHub Inc. (NYSE: GRUB), can be viewed by registering at http://protraderdaily.com/optin/?symbol=GRUB, following the Company's posting of its second quarter fiscal 2017 operating results on August 03, 2017. The online food ordering service outperformed revenue estimates and also raised the low range of its revenue guidance for 2017. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

http://protraderdaily.com/register/

Get more of our free earnings reports coverage from other constituents of the Internet Information Providers industry. Pro-TD has currently selected Bitauto Holdings Limited (NYSE: BITA) for due-diligence and potential coverage as the Company announced on August 15, 2017, its unaudited financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Bitauto when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on GRUB; also brushing on BITA. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=GRUB

http://protraderdaily.com/optin/?symbol=BITA

Earnings Reviewed

For Q2 2017, GrubHub reported revenue of $158.8 million, a 32% y-o-y increase compared to revenue of $120.2 million in Q2 2016. The Company's net revenue, as a percentage of gross food sales, was 18.1% during the reported quarter, up more than 160 basis points from the prior year's 16.4%, driven by an increase in mix of its business towards GrubHub-delivered orders as well as restaurants paying higher rates for more exposure on the Company's site. GrubHub's revenue result exceeded analysts' estimates of $158.1 million.

For Q2 2017, GrubHub's operations and support expenses were $62.9 million, a 55% increase compared to the $40.7 million in Q2 2016. The Company stated that the outsized increase relative to order growth is due to the mix shift of the Company's business towards more GrubHub-delivered orders, as well as the underlying growth of its total order volume to a lesser extent. GrubHub's technology expenses, excluding amortization and web development, were $14.1 million for the reported quarter, increasing 33% from Q2 of 2016.

During Q2 2017, GrubHub posted net income of $14.8 million, or $0.17 per diluted share, a 15% y-o-y growth from $12.8 million, or $0.15 per diluted share, in Q2 2016. The Company recorded non-GAAP net income of $23.2 million, or $0.26 per diluted share, up 19% compared to earnings of $19.6 million, or $0.23 per diluted share, in the prior year's same quarter. GrubHub's earnings numbers matched Wall Street's estimates of $0.26 per share.

GrubHub's non-GAAP adjusted EBITDA came in at $42.2 million for Q2 2017, reflecting a 12% y-o-y increase from $37.6 million reported in Q2 2016. The Company's adjusted EBITDA per order was $1.48, down 3% from the prior year's $1.52 due to the ramp in advertising on a y-o-y basis.

Business Metrics Highlights

GrubHub's active Diners were 9.18 million in Q2 2017, a 25% y-o-y increase from 7.35 million Active Diners in Q2 2016. In the reported quarter, Daily Average Grubs (DAGs) were 313,900, a 16% growth on a y-o-y basis, compared to 271,100 DAGs in the prior year's comparable quarter. GrubHub's gross Food Sales were $880 million, a 20% y-o-y increase from $733 million in Q2 2016.

Outlook

For Q3 2017, GrubHub is forecasting revenue in the range of $155 million to $163 million, and adjusted EBITDA in the band of $38 million to $42 million. The Company raised the low-end of full year revenue guidance, bringing the revised range up to $642 million to $662 million. GrubHub also revised full year EBITDA guidance to a range of $170 million to $180 million.

Stock Performance

GrubHub's share price finished yesterday's trading session at $54.93, rising 1.05%. A total volume of 1.27 million shares have exchanged hands. The Company's stock price skyrocketed 28.55% in the last three months, 47.15% in the past six months, and 45.70% in the previous twelve months. Additionally, the stock soared 46.01% since the start of the year. Shares of the Company have a PE ratio of 80.66 and currently have a market cap of $4.72 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily