Instacart’s Bleak Second-Half Outlook: Slower Growth, Lower Profits

Instacart’s first couple of quarters on the public markets could come with slower revenue growth and lower profits than it reported in the first half, according to private forecasts from analysts at banks that underwrote Instacart’s initial public offering this month. The low expectations could further dent Instacart’s stock price, which has still been hovering around its IPO price, if the company can’t surpass the forecasts.

Analysts at Goldman Sachs and other banks expect Instacart to report between 7% and 8% revenue growth in the second half, two people familiar with the matter said. That’s down from growth of 31% in the first half, and 50% growth from the second half of 2022.