Just Eat Takeaway.com, the largest meal delivery service in Europe, announced on October 19, 2022, that it earned profit in the third quarter of 2022 earlier than anticipated, owing to reduced spending on operations and delivery costs. Gross transaction value (GTV), a key metric for eCommerce businesses, increased by 2% in the third quarter because of higher menu pricing, but experts anticipated a decline in order volume.
In September 2022, the company said that it expected positive earnings before interest, taxes, depreciation, and amortization (EBITDA) in the second half of 2022. Even though the consumer backdrop will probably be difficult given the economic climate, Just Eat Takeaway.com is well-capitalized owing to the expected sale of its stake in Brazilian iFood. The $1.8 billion deal will be put to vote at an extraordinary shareholder meeting on November 18, 2022. There was a significant increase in the total revenue and net profit in 2022 over that in 2021, according to GlobalData.
The company had a turbulent year and has been under pressure from investors to prop up its share price in the face of stiff competition and a dwindling pandemic boost. The company’s stock lost nearly 70% of its value in 2022.
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