# Delivery Hero sees higher gross merchandise value in third quarter
Published: 2022-08-16
Category: Headlines
Category URL: https://blockchaintribune.com/category/headlines/
Meta Title: Delivery Hero expects 7% jump in Q3 GMV to $10.8 billion
Meta Description: Get the latest updates on Delivery Hero's strong Q3 outlook and profitability forecast, with a 7% jump in GMV to $10.8 billion. Stay informed!
URL: https://blockchaintribune.com/delivery-hero-sees-higher-gross-merchandise-value-in-third-quarter/

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(Reuters) -German online takeaway food company Delivery Hero on Tuesday forecast a 7% jump in its third-quarter gross merchandise value (GMV) to 10.6 billion [euros](https://blockchaintribune.com/brembo-q1-operating-profit-rises-on-record-sales/) ($10.8 billion), compared with the April to June period.

Including Barcelona-headquartered food delivery firm Glovo, in which [Delivery](https://blockchaintribune.com/uber-to-cease-food-delivery-in-italy-exit-israel/) Hero owns a majority stake, the group expects its GMV to reach 11.5 billion euros in the three months to Sept. 30.

“Slowdown… what Slowdown? A strong Q3 outlook and positive comments on profitability – upgrades are coming through,” analysts at J.P. Morgan commented the trading update in a note to clients.

The company expects the Asia segment for its platform business, which accounts for nearly three quarters of the group’s GMV, to generate 7 billion euros in the current three-month period, an 8% increase on the quarter. The segment had also generated positive core earnings in the second quarter.

[Delivery](https://blockchaintribune.com/uber-to-cease-food-delivery-in-italy-exit-israel/) Hero also reiterated its target to reach profitability for the entire group in 2023.

The widely loss-making food delivery sector was one of the big beneficiaries of the COVID-19 pandemic, but that effect has waned as consumers, faced with soaring inflation, have started to cut back.

In the third [quarter](https://blockchaintribune.com/daimler-truck-q1-sales-drop-13-as-markets-normalize/) of 2021, Delivery Hero had posted a GMV of 9.6 billion euros, a 65% increase year-on-year, boosted by higher demand for food delivery amid coronavirus restrictions.

The Berlin-based firm confirmed its preliminary figures for the second quarter, including an 18% GMV growth and a 38% rise in revenues on the year, and the updated full-year guidance it issued in July.

($1 = 0.9845 euros)

(Reporting by Tristan Chabba and Elena Vardon in Gdansk, editing by Milla Nissi)


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