Maplebear Inc

CART: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Instacart Earnings: Gross Transaction Value Is Strong, but Competitive Overhang Remains

Mark Giarelli , Robert Leary

May 7, 2026

Instacart topped first-quarter analyst expectations per FactSet, posting over $1 billion in revenue and surpassing $10 billion in gross transaction value, or GTV, for the first time. We suspect increased payments to advertising partners spooked the market.

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Maplebear Inc

Instacart Earnings: Gross Transaction Value Is Strong, but Competitive Overhang Remains

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