Maplebear 2025 Q3 Earnings Beats Expectations with 22% Net Income Growth

Maplebear (CART) reported fiscal 2025 Q3 earnings on Nov 11, 2025, surpassing Wall Street expectations. The company delivered a 10.2% year-over-year revenue increase and 22% net income growth. CFO Emily Maher outlined Q4 guidance in line with market projections, emphasizing disciplined execution and AI-driven innovation.

Revenue

Maplebear’s total revenue surged to $939 million in Q3 2025, reflecting a 10.2% year-over-year increase. The growth was led by the transaction segment, which generated $670 million, while advertising and other revenue supplemented the total with $269 million. This performance exceeded the Zacks Consensus Estimate by 0.49%, underscoring the company’s robust market position.

Earnings/Net Income

Earnings per share (EPS) rose 20% to $0.54, outpacing the $0.50 consensus estimate. Net income reached $144 million, a 22% year-over-year increase, with sustained profitability for three consecutive years. The EPS growth highlights the company’s ability to translate operational efficiency into shareholder value.

Post-Earnings Price Action Review

Following the report, Maplebear’s stock price declined 3.52% on the latest trading day, edged down 0.29% for the week, and fell 4.50% month-to-date. Despite beating expectations, the stock underperformed the broader market, which gained 0.3% over the same period. Analysts assigned a Zacks Rank #3 (Hold), suggesting alignment with market trends in the near term.

CEO Commentary

CEO Chris Rogers emphasized the company’s leadership in online grocery, enterprise technologies, and advertising. He highlighted unit economics improvements, strategic AI integration, and a $1.5 billion share repurchase boost as key drivers of long-term value creation.

Guidance

CFO Emily Maher provided Q4 2025 guidance: GTV of $9.45–9.6 billion (9%–11% YoY growth), advertising revenue growth of 6%–9% YoY, and adjusted EBITDA of $285–295 million. The company reiterated its full-year advertising revenue target of $1 billion.

Additional News

Maplebear announced a $1.5 billion increase in its share repurchase program, signaling confidence in long-term value. Analysts Needham and Benchmark revised their price targets downward to $50 and $60, respectively, while maintaining Buy ratings. The company also outlined plans to expand its enterprise platform, powering 350+ retailer e-commerce storefronts, and leverage AI to enhance grocery experiences.

Key Insights

Maplebear’s Q3 results reflect strong operational execution and strategic reinvestment. While the stock faces short-term volatility, the company’s focus on AI innovation and enterprise growth positions it for durable long-term performance. Investors should monitor Q4 guidance and industry dynamics for further clarity.