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GrubHub (GRUB) Stock Soars on Q2 Earnings Beat, Positive Outlook

NEW YORK (TheStreet) -- Shares of GrubHub (GRUB) are gaining 26.97% to $39.03 on heavy trading volume this afternoon after the company reported higher-than-anticipated 2016 second quarter results before today's opening bell.

Adjusted earnings for the period were 23 cents per share, beating estimates of 19 cents per share. The company also reported a 37% year-over-year increase in revenue at $120.2 million. Wall Street was looking for $114.18 million.

Guidance for fiscal year 2016 revenue is up to $480 million-$488 million, higher than the company's previous projection of $450 million-$465 million.

Over 9.5 million...