Amazon-backed Deliveroo Surges to First-Ever Profit in First Half of 2024, Reports 'Positive Inflection' in Consumer Demand
Deliveroo achieved its first-ever profit in the first half of 2024, earning over $1 million after a significant loss the previous year. Orders on the Amazon-backed food delivery platform grew slightly in the first half of the year, with an increase in gross transaction value. The London-based company saw a "positive inflection" in consumer demand, with order frequency returning to growth and improved retention. Shares jumped 8% on the news.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:02The Liveroo achieved its first-ever profit in the first half of 2024, earning over $1
00:07million after a significant loss the previous year.
00:11Orders on the Amazon-backed food delivery platform grew slightly in the first half of
00:14the year, with an increase in gross transaction value.
00:18The London-based company saw what it called a positive inflection in consumer demand,
00:22with order frequency returning to growth and improved retention.
00:25Shares jumped 8% on the news.
00:27For all things money, visit Benzinga.com.