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Delivery Hero raises revenue guidance, lifting shares

Published 04/25/2024, 06:59 AM
©  Reuters

Investing.com -- Shares in Delivery Hero (ETR:DHER) rose in mid-day European trading on Thursday after the platform raised its annual revenue guidance following a stronger-than-anticipated first-quarter performance that was fuelled by increased orders and advertising gains.

The food delivery group said it now expects top-line growth to be between 18% to 21% this year, up from its prior target of 15% to 17%.

Total segment revenue during the first three month period of its current fiscal year jumped by 21% to 3.02 billion euros in constant currency, topping analysts' expectations of 2.81 billion euros in a poll provided by the company.

"We had a great start to 2024. We continue to execute our plan for profitable growth and cash flow generation, while deepening our focus on building clear leadership positions in our portfolio,” Chief Executive Officer Niklas Östberg said in a statement.

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