Instacart (CART, Financials) shares surged 13.6% Friday to close at $45.22 after the company announced the acquisition of Wynshop, a retail e-commerce platform, alongside mixed first-quarter results. The stock gained another 0.9% in after-hours trading.
Revenue rose 9.4% from a year earlier to $897 million, edging past estimates. Earnings per share came in at $0.37, slightly below forecasts.
Wynshop works with grocers like Wakefern and Pattison. Instacart said the deal builds on its existing partnerships and will allow it to bring more of its white-label toolslike Storefront Pro and Carrot Adsto new retail clients. For now, Wynshop will run as a subsidiary, and its gross transaction value won't immediately show up in results.
The company framed the move as a long-term play to deepen ties with grocers and expand its role beyond delivery. That includes scaling digital tools for fulfillment, in-store shopping, and advertising.
With consumer delivery growth maturing, Instacart appears focused on becoming the backend engine for grocery e-commerce.
Investors will watch for signs that enterprise adoption translates into revenue momentum in future quarters.
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