Amazon is jumping further into food-delivery by teaming up with Grubhub, just as some analysts say they see the pandemic-induced spike in that market slowing. So what does that mean for Uber and DoorDash? What to expect from Uber and DoorDash earnings:
Amazon.com Inc. is jumping further into the food-delivery business by teaming up with Grubhub, just as some analysts say they see the pandemic-induced spike in that market slowing. So what does that mean for dominant U.S. delivery companies Uber Technologies Inc. and DoorDash Inc.?
Morgan Stanley analysts wrote about a possible upside for Amazon, which has a similar partnership with Deliveroo in the United Kingdom. Amazon’s efforts to promote Grubhub “to Prime members will be important to monitor,” they said. “For context, Deliveroo saw its subscriber base double in the month following the launch of its partnership with [Amazon].”
In another sign of the struggles in delivery — and in the broader economy — some ultra-fast delivery startups have shut down, such as Buyk and Jokr, which is closing its U.S. operations. Other delivery companies, including Gopuff and Getir, have been laying off employees. Revenue: Analysts on average expect revenue of $7.36 billion, according to FactSet, up from $3.93 billion a year ago. Estimize is guiding for $7.57 billion.
Revenue: Analysts on average expect revenue of $1.52 billion, according to FactSet, up from $1.24 billion a year ago. Estimize is guiding for $1.5 billion. “Amazon has tried to build its own third-party food marketplace for years and did not have much success,” analysts for William Blair wrote in a recent note. They said they think that even despite increasing competition, DoorDash will nevertheless “remain a strong player in the space” because of its scale, technology, brand and partnerships. They also noted that Uber continues to grow in the space, “demonstrating the strength of its global marketplace business portfolio.
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