(Reuters) – Just Eat Takeaway reported lower-than-expected third-quarter gross transaction value (GTV) on Wednesday as a stronger-than-expected decline in North America offset growth in key markets. Northern Europe, UK and Ireland.
Europe’s largest food delivery company, Just Eat, said its VBT, measuring the total value of all goods sold, fell 3% to €6.34 billion in the July-September period.
This is lower than a consensus of 6.5 billion cited by ING analysts.
Just Eat also processed fewer orders than expected through its platforms in the third quarter, with 211.1 million orders compared to 214 million expected on average by analysts.
With their popularity waning post-pandemic, food delivery companies are looking for new ways to support their revenue by leveraging advertising and introducing AI solutions to improve delivery logistics.
Just Eat reaffirmed its 2024 outlook announced at the end of February, targeting growth of 2% to 6% in gross revenue excluding North America as well as adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of around 450 million euros.
(Reporting Michal Aleksandrowicz in Gdansk; Etienne Breban; edited by Blandine Hénault)
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