Investors October 31, 2019
GrubHub’s Weak Q3 Earnings
在线视频GrubHub’s weak Q3 earnings report and Q4 guidance have led the stock to plunge significantly. We have explored some digital insights to understand what is driving this poor performance:
- Grubhub.com is losing online market share to competitors – specifically doordash.com
- Popularity of GrubHub’s app is also declining, whilst competitors are experiencing growth in downloads and daily active users
When totaling Similarweb’s monthly visits (desktop and mobile web) with the average number of daily active users (DAUs) per quarter, over the past 12 quarters, we see a strong correlation with GrubHub’s reported revenue.
So let’s take a closer look at the trends in GrubHub’s monthly visits and DAUs.
Site visits and online market share
在线视频Below we see a downward trend in the number of monthly visits to grubhub.com and its competitors since March 2019. This is probably due to a preference for mobile apps. However we also see that grubhub.com is losing online market share to doordash.com, which overtook grubhub.com in the number of monthly visits in February 2019.
在线视频GrubHub’s Android app has also been losing share, with a declining number of downloads in the past few months. Meanwhile both Uber Eats and DoorDash have both experienced growth in the number of monthly downloads of their Android apps during the same period.
The same trends are seen in the number of DAUs.
在线视频Web and app traffic data is indicating poor performance for GRUB, and highlighting that the company is continuing to lose share to competitors.