Maplebear's CART Stock Price Surges on Strong Q4 Performance

Maplebear Inc. (NASDAQ: CART) delivered impressive fourth-quarter results that sent the CART stock price climbing 15.82% to $38.50 in after-hours trading. The strong market reaction underscores investor confidence in Instacart’s growth trajectory and operational efficiency gains. But while the top-line numbers impressed, the earnings per share result tells a more nuanced story.

Revenue Strength Outpaces EPS Performance

Instacart reported quarterly earnings of 30 cents per share, falling short of the 52-cent Street consensus estimate according to Benzinga Pro data. However, the company offset this miss with robust revenue performance. Q4 revenue reached $992 million, surpassing the analyst consensus of $974.08 million. This revenue beat, combined with accelerating order volume, appears to have reassured investors about the company’s underlying business momentum despite the EPS disappointment.

Explosive Growth Across Core Metrics

The full-year 2025 financial highlights reveal the scale of Instacart’s expansion. Gross Transaction Value (GTV) reached $37.22 billion, climbing 11% year-over-year, while order volume surged 15% to 338.8 million. Total revenue expanded to $3.742 billion, also up 11% annually and representing 10.1% of GTV. Transaction revenue—the core business engine—grew to $2.68 billion (up 11% YoY), while advertising and other revenue contributions totaled $1.07 billion. These growth rates demonstrate Instacart’s ability to expand across multiple revenue streams simultaneously.

Profitability Acceleration Driving Stock Momentum

What likely fueled the CART stock price appreciation was Maplebear’s profitability inflection. Adjusted EBITDA surged 23% year-over-year to $1.09 billion, representing 29% of total revenue. This margin expansion significantly outpaced revenue growth, signaling meaningful operational leverage as the platform scales. The company’s management noted Q4 marked “our strongest quarterly GTV growth in three years,” with GTV climbing 14% year-over-year and orders increasing 16%.

Capital Return Strategy Reinforces Shareholder Value

Beyond organic growth, Maplebear’s $1.4 billion share repurchase program in 2025—with $1.1 billion executed in Q4 alone—demonstrated management’s confidence in intrinsic value. Coupled with $971 million in operating cash flow generation, the company proved it can simultaneously invest in growth and return capital to shareholders. This balanced approach appears to have resonated with the market, justifying the CART stock price jump that followed the earnings release.