CHICAGO (AP) _ GrubHub Inc. (GRUB) on Wednesday reported a first-quarter loss of $33.4 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Chicago-based company said it had a loss of 36 cents. Earnings, adjusted for one-time gains and costs, came to less than 1 cent on a per-share basis.
The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The online food ordering service posted revenue of $363 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $360.6 million.
GrubHub shares have climbed 4.5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $50.83, a drop of 29% in the last 12 months.